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Citic Envirotech's 1Q earnings more than double to $39.3 mil on higher revenue

Michelle Zhu
Michelle Zhu4/26/2018 04:47 PM GMT+08  • 2 min read
Citic Envirotech's 1Q earnings more than double to $39.3 mil on higher revenue
SINGAPORE (Apr 26): Citic Envirotech (CEL) reported earnings of $39.3 million for the 1Q ended March 2018, more than doubling from its restated earnings of $16.4 million a year ago on higher revenue.
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SINGAPORE (Apr 26): Citic Envirotech (CEL) reported earnings of $39.3 million for the 1Q ended March 2018, more than doubling from its restated earnings of $16.4 million a year ago on higher revenue.

Revenue for the quarter more than doubled to $247.1 million from $99.6 million previously due to improved contributions across all of its business segments, particularly engineering and membrane system sales.

The overall revenue growth was further boosted by the continued growth momentum of recurring treatment revenue, which increased 23% to $46.4 million from $37.7 million a year ago.

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