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SIIC Environment posts 22% rise in 2Q earnings to $20.5 mil

PC Lee
PC Lee8/13/2016 05:14 PM GMT+08  • 1 min read
SIIC Environment posts 22% rise in 2Q earnings to $20.5 mil
SINGAPORE (Aug 12): SIIC Environment Holdings, the water treatment and environmental protection company based in China, reported earnings of RMB 101.16 million ($20.5 million) in 2Q16, 21.8% higher from a year ago, bolstered partly by other income.
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SINGAPORE (Aug 12): SIIC Environment Holdings, the water treatment and environmental protection company based in China, reported earnings of RMB 101.16 million ($20.5 million) in 2Q16, 21.8% higher from a year ago, bolstered partly by other income.

Other income increased to RMB 45.92 million from RMB 18.88 million due mainly to the recognition of value added tax refund imposed on billing raised from concession service agreements, which was effective only in July 2015.

For the three months ended June, revenue surged 33.5% to RMB 556.27 million from the previous year due largely to stronger contributions from its construction business.

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