United Envirotech's 93% profit jump to get more boost

It is confident amid looming threats.

According to OCBC, United Envirotech Limited (UEL) is likely to see its growth trend continuing in 2HFY13 after a strong showing in 1HFY13, buoyed by the still-growing demand for membrane-based water and waste-water treatment services in China.

Here's more from OCBC:

As a recap, its 1HFY13 revenue grew 87% to S$86.0m, while net profit jumped 93% to S$14.0m.

As its Engineering revenue is likely to remain lumpy, subject to the number of new EPC projects that it can secure, management remains keen to increase the contribution
from the more stable and recurring Treatment segment.

Recall that its Treatment revenue jumped 73.7% YoY and 45.6% QoQ in 2QFY13 to S$9.9m after earlier adding several operating TOT projects in Shandong to its portfolio over the past few months.

And due to the numerous upgrades that UEL is currently making to its existing treatment plants, management is confident that it can continue to increase Treatment revenue in the coming quarters.

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