SINGAPORE (Feb 28): China Jinjiang Environment reported a 10.5% rise in 4Q earnings to RMB204.7 million ($43 million) from a year ago as the country's clean energy sector goes through a phase of high growth and development.
Revenue in 4Q17 increased 10.4% to RMB858.6 million due mainly to a 131.5% increase in revenue from its EMC business to RMB199 million. Revenue from waste-to-energy (WTE) business decreased by 5.1% to RMB24.4 million and revenue from construction services provided under build-operate-transfer (BTO) concessions decreased 3.8% to RMB203.1 million.
Cost of sales increased 3.8% to RMB505.7 million resulting in a 21.4% rise in gross profit to $352.9 million.
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