China Everbright Water's H1 Profit Falls 8% on Surge in Direct Costs; Shares Slide 3%

MT Newswires Live2024-08-13

China Everbright Water's (HKG:1857) attributable profit fell 8% to HK$581.1 million in the first half from HK$632.2 million in the year-ago period, according to a Tuesday filing with the Hong Kong Stock Exchange.

Earnings per share at the water treatment company decreased 8% to HK$0.2031 from HK$0.221 in the previous year.

Revenue rose 9% to HK$3.35 billion from HK$3.08 billion a year earlier. Direct costs surged 25% to HK$2.08 billion from HK$1.67 billion.

The company declared an interim dividend of HK$0.0609 per share, payable Sept. 11 to shareholders on record as of Aug. 28.

Shares declined 3% Tuesday afternoon in Hong Kong.

Price (HKD): $1.47, Change: $-0.04, Percent Change: -2.65%

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