Citic Envirotech 3Q earnings drop 55.4% to $21 mil on higher expenses

SINGAPORE (Oct 24): Citic Envirotech, the membrane-based integrated environmental solutions provider, reported 3Q18 earnings fell 55.4% to $21.9 million from $49.2 million in 3Q17.

This brings 9M18 earnings to $104.6 million, 20.3% higher than $87.0 million in 9M17.

Total revenue for the quarter came in at $238.2 million, 4.1% higher than $228.7 million a year ago, mainly attributable to an 84.8% y-o-y increase in finance income from service concession.

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