United Envirotech shocks competitors with 114% jump in revenue

Including a 68% leap in profits.

According to a release, United Envirotech Limited (UEL) reported 2QFY13 revenue +114% YoY to S$53.9m, and +68% QoQ, as it undertook more projects over the quarter. Net profit also more than doubled to S$8.1m, and was also up 37% QoQ.

For 1HFY13, revenue grew 87% to S$86.0m, meeting 72% of our full-year forecast, while net profit jumped 93% to S$14.0m, or 78% of our FY13 estimate.

By segments, Engineering jumped 125.5% YoY and 73.9% QoQ to S$44.0m, again largely due to EPC work to upgrade the Liaoyang TOT project (60% of the RMB104m contract value was recognised in 2QFY13).

Treatment revenue rose 73.7% YoY and 45.6% QoQ to S$9.9m – recall that UEL had earlier added several operating TOT projects in Shandong to its portfolio over the past few months.

Going forward, UEL continues to remain bullish on the water and waste-water treatment market in China, where it believes that the demand for membrane-based
services will continue to grow.

Upgrading of old water treatment plants also holds great promise, and UEL has embarked on several of its existing plants. Management also aims to maintain its growth trend in 2HFY13.

Also Read

Institution of Engineers sets up new board to promote faster chartership registration

Hanwha raises offer to $0.67 to acquire full control of Dyna-Mac Holdings

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit