United Envirotech's net profit jumped 3.5% to $6.1m

More projects in China underway.

According to OCBC Investment Research, United Envirotech Ltd this morning reported 1QFY14 revenue of S$44.1m, +37.5% YoY (but -5.9% QoQ), meeting 14.2% of its FY14 forecast, while net profit climbed 3.5% YoY (down 13.8% QoQ) to S$6.1m, or 12.5% of its full-year forecast. 

Here's more:

According to management, the higher revenue came from a 23.3% YoY jump in Engineering revenue to S$31.2m, while recurring Water Treatment revenue surged 89.7% to S$12.9m. Note that its fiscal first quarter tends to be seasonally softer.

Going forward, management intends to grow its recurring treatment income further and focus on securing more industrial wastewater treatment projects in China.