Published:
Hyflux profit up 21% to S$17.5m
The firm’s revenue for the second quarter increased 71% YoY.
OCBC Investment Research noted:
Hyflux Ltd saw 2Q12 revenue jumping 71% YoY and 37% QoQ to S$190.4m, buoyed by its ongoing projects in Asia. Net profit climbed 21% YoY and 129% QoQ to S$17.5m.
For 1H12, revenue grew 66% to S$329.3m, meeting 56% of our FY12 forecast, while net profit rose 15% to S$25.2m, or 39% of our full-year forecast.
We deem the results to be in-line as Hyflux typically achieves 40% of its earnings in the first half. It also declared an interim dividend of 0.7c/share, up from 0.6c last year.
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