Hyflux's earnings boosted by project completions in Q3

Hyflux net profit soared 74 per cent to $25.3 million in the third quarter from the preceding year, it said on Thursday.

Revenue for the three months to Sept 30 climbed 26 per cent to $187.7 million year-on-year.

The company said this was due to the completion of projects in the quarter, adding that the bulk of revenue came from the municipal sector.

Earnings per share were 2.33 cents for the quarter, up from 1.01 cents the preceding year. Net asset value per share was 58.5 cents as at Sept 30, an increase from 55.8 cents as at Dec 31.

Its share price closed flat at $1.17 on Thursday.