UTILITIES | Staff Reporter, Singapore

SIIC Environment profits up 17.2% to $22.57m in Q3

Income from its construction businesses and service agreements boosted revenue.

Water treatment firm SIIC Environment Holdings' profits rose 17.2% YoY from $19.26m (CNY94.05m) to $22.57m (CNY110.21m) in Q3.

According to its financial statement, revenue surged to $278.51m (CNY1.36b), whilst operating profit jumped from $27.43m (CNY133.94m) to $57.05m (CNY278.56m).

Revenue from its segments all posted growth, and the biggest increases came from its construction business and service concession agreements.

Construction revenue soared to $149.78m (CNY731.48m), mainly due to more substantial completion of certain projects by existing entities as well as contribution from newly acquired entities.

Financial income from service concession arrangements also jumped to $37.01m (CNY180.73m), thanks to higher water treatment and supply sales volume and contributions by newly acquired entities.

Other operating income also increased to $3.21m (CNY15.7m), due to higher volume of installation of water meters carried out in Q3.

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