UTILITIES | Staff Reporter, Singapore

Everbright Water's profits up 35% to $21.42m in Q3

Construction projects boosted its revenue.

China Everbright Water's profits jumped by 35% YoY from $15.9m (HK$91.1m) to $21.42m (HK$122.76m) in Q3.

According to its financial statement, revenue increased by 35% YoY from $96.6m (HK$553.49m) to $130.22m (HK$746.14m), largely thanks to an increase in construction revenue.

The segment's revenue increased thanks to the construction of the sponge city construction project and the river-basin ecological restoration project, in addition to the expansion and upgrading of several wastewater treatment plants.

Cost of sales also jumped by 36% YoY to $78.35m (HK$448.98m), due to higher costs from plentier construction services.

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