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CITIC Envirotech sinks to 3Q loss of $7.2 mil as engineering revenue dries up

Stanislaus Jude Chan
Stanislaus Jude Chan10/25/2019 02:30 PM GMT+08  • 2 min read
CITIC Envirotech sinks to 3Q loss of $7.2 mil as engineering revenue dries up
SINGAPORE (Oct 25): Mainboard-listed environmental protection solutions provider CITIC Envirotech (CEL) plunged into the red with losses of $7.2 million for the 3Q19 ended September, from earnings of $21.9 million a year ago.
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SINGAPORE (Oct 25): Mainboard-listed environmental protection solutions provider CITIC Envirotech (CEL) plunged into the red with losses of $7.2 million for the 3Q19 ended September, from earnings of $21.9 million a year ago.

Total 3Q19 revenue fell 31.0% to $164.3 million, compared to $238.2 million a year ago.

The decline was led by a sharp 61.2% drop in engineering revenue to $47.7 million, from $122.9 million a year ago.

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