United Envirotech posts 49% rise in Q3 earnings to $12.5 million

SINGAPORE - United Envirotech has chalked up a 49.3 per cent rise in third quarter net profit to $12.5 million.

Revenue for the three months to Dec 31 soared by 80.6 per cent to $116.1 million.

Revenue from the recurring water treatment business segment rose by 37.6 per cent to $27.8 million.

Turnover from Engineering, Procurement, and Construction projects increased 74.4 per cent to $76.9 million. The group's acquired membrane business contributed additional revenue of $11.4 million, which was not present in the same period last year.

Earnings per share slipped to 1.34 cents from 1.41 cents previously while net asset value per share grew to 72.93 cents compared to 53.73 cents as at March 31.

Looking ahead, United Envirotech said it remains positive about the outlook of the Chinese water treatment sector, as well as the demand for membrane products and Membrane Bioreactor technology.

"The application of membrane technology will become widely accepted as the Chinese government continues to increase water discharge standard across China.

"To fully capture this growing market, the group will continue to explore joint-ventures with strategic partners to secure more EPC projects and boost membrane sales."