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China Jinjiang Environment reports 6.8% earnings growth to $25.8 mil in 1Q

Michelle Zhu
Michelle Zhu5/16/2017 8:3 AM GMT+08  • 3 min read
China Jinjiang Environment reports 6.8% earnings growth to $25.8 mil in 1Q
SINGAPORE (May 16): China Jinjiang Environment reported 1Q earnings at RMB127.4 million ($25.8 million), 6.8% higher than a year ago on better margins.
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SINGAPORE (May 16): China Jinjiang Environment reported 1Q earnings at RMB127.4 million ($25.8 million), 6.8% higher than a year ago on better margins.

The bottomline growth comes despite a 3.6% decline in revenue to RMB557.6 million as compared to RMB578.4 million in the previous year, primarily due to lower revenue from construction services provided under build-operate-transfer (BOT) concession agreements over the quarter, as well as lower contributions from the group’s project technical and management services and energy management contracting (EMC) business.

Revenue from China Jinjiang’s dominant waste-to-energy (WTE) business segment notably grew 39.2% to RMB469.4 million over the quarter from RMB337.1 million in 1Q16, primarily due to higher waste treatment fees on the increase in the supply of municipal solid waste to the group’s WTE facilities.

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