Hyflux's net profit crashed 85% to $5.6m in Q1

Due to divestment gains last year.

Hyflux reported that its net profit crashed 85% to $5.6m in the first quarter.

The group noted that its results in the comparable period last year were boosted by one-off divestment gains.

The municipal sector continued to be the main contributor to the group’s revenue, accounting for 84% or $51.1m of revenue. Revenue for the industrial sector made up 15% or $9m of Group revenue.

Asia remained the key market for Hyflux with revenue contributions from Singapore and China accounting for 64% and 11% respectively. The Middle East and North Africa contributed 11% while rest of the world was 14%.

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