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ecoWise reverses out of the red with 3Q earnings of $0.9 mil on higher revenue

Uma Devi
Uma Devi9/15/2019 08:46 PM GMT+08  • 2 min read
ecoWise reverses out of the red with 3Q earnings of $0.9 mil on higher revenue
As at end July, cash and cash equivalents stood at $1.98 million, while earnings per share came in at 0.09 cent, compared to a loss of 0.23 cent per share a year ago.  In its outlook statement, ecoWise says that it is in the midst of rationalising and
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SINGAPORE (Sept 15): Environmental solutions provider ecoWise reported 3Q19 ended July earnings of $0.94 million compared to a loss of $2.2 million in the same quarter last year.

Revenue for the quarter increased 9.1% to $14.7 million from $13.5 million the preceding year, on the back of higher sales of retreaded tyres and rubber compounds from the resource recovery segment.

All segments across the business displayed an increase in revenue - the group’s renewable energy segment’s revenue recorded a 3.7% increase to $2.7 million, while the integrated environmental solutions management segment’s revenue doubled to $0.4 million.

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