Hyflux in for another weak quarter after disappointing Q1

Activities will only pick up in 2H.

Hyflux is in for another subpar quarter after suffering an 85% profit crash in the first three months of the year.

A report by OCBC Investment Research noted that Hyflux's operational activities will only pick up in the second half of the year.

These activities include a ramp up in Magtaa Desalination Plant in Algeria, the commissioning of Tuaspring Power Plant in Singapore, and the full-scale development of QIWP, Oman.

"And until these activities kick in, we suspect that the group could face another pretty lackluster quarter ahead. But to be fair, the company’s revenue tends to be quite lumpy, given the project-based nature of its business," stated OCBC.