Hyflux posts 1% rise in 2Q net profit, exits China projects
Better cost management helped water treatment firm Hyflux post a marginal 1 per cent rise in second-quarter earnings despite revenue declining 25 per cent.
Net profit rose to $17.7 million for the three months ended June 30, up from $17.5 million a year ago, Hyflux said on Tuesday.
Although revenue fell to $138.4 million from $183.6 million a year ago, gross margins improved to 42 per cent in the quarter from 33 per cent previously as a result of more effective cost management.
The group is declaring an interim dividend of 0.7 cents per share, payable on Sept 5.