Hyflux 3Q profits jumped threefold to $21m

Revenue reached peak at $296m.

Hyflux Ltd reported profit after tax and minority interests (PATMI) of S$21 million in the third quarter of 2016, an increase of 234% from S$6 million in the same period last year.

Group revenue for the third quarter of 2016 rose to a record of S$296 million from S$133 million in the third quarter of 2015, with municipal projects representing a majority 93% or S$275 million of the Group's revenue.

Singapore and the Middle East continue to be the Group's key markets, accounting for 75% and 21% of total revenue respectively.

Revenue reached peak at $296m.Hyflux Ltd reported profit after tax and minority interests (PATMI) of S$21 million in the third quarter of 2016, an increase of 234% from S$6 million in the same period last year.

Group revenue for the third quarter of 2016 rose to a record of S$296 million from S$133 million in the third quarter of 2015, with municipal projects representing a majority 93% or S$275 million of the Group's revenue.

Singapore and the Middle East continue to be the Group's key markets, accounting for 75% and 21% of total revenue respectively.

The higher PATMI and revenue were mainly contributed by the Tuas One Waste-toEnergy (WTE) project and Qurayyat Independent Water Project (IWP).

Profits from higher engineering, procurement and construction (EPC) activities were partially offset by the weak Singapore power market.