Dayen Environmental says it recorded a revenue of $35.5 million and loss attributable to shareholders of $5.53 million for the financial year ended 30 September 2009.

The group says revenue for the year ended Sept 30 2009 increased by 20% from $29.53 million for the financial year ended Sept 30 2008 as compared to $35.5 million for the year ended Sept 30 2009. The increase was due to several key projects in Johor Bahru (Malaysia), Cambodia and Singapore being significantly completed for the financial year ended Sept 30 2009.

The group also registered a gross profit of $1.83 million for the financial year ended Sept 30 2009 compared to a gross loss of $1.61 million for the financial year ended Sept 30 2008.

Dayen says the strong turnaround in gross profit margin from a negative 5.5% for the financial year ended 2008 to a positive 5.2% for the financial year ended 2009 was mainly due to $2.14 million gross profit mainly from new projects secured in 2008 in Oman, Johor Bahru (Malaysia) and Papua New Guinea as well as $1.36 million gross profit mainly from maintenance projects in Singapore and EPC projects in Uzbekistan and Brunei that were secured before 2008.

Other expenses decreased by $5.96 million or 72% from $8.28 million for the financial year ended Sept 30 2008 to $2.32 million for the financial year ended Sept 30 2009.

Share of losses of jointly-controlled entities amounted to $1.36 million for the financial year ended 30 September 2009 compared to $0.13 million for the financial year ended Sept 30 2008. This is mainly due to the impairment losses for the joint venture company Pizhou Water Holdings in China.