China Everbright results dazzle
Waste-to-energy and water treatment projects developer China Everbright International posted a 23 per cent year-on-year profit increase for the year’s first six months to HK$801.9 million.
Revenue of the Hong Kong-listed unit of central government-backed financial-to-infrastructure conglomerate China Everbright Group rose 19 per cent to HK$2.94 billion.
Operating profit of the waste-to-energy operation rose 23.8 per cent to HK$978 million while that of the water projects operation increased 6 per cent to HK$300.07 million.
Profit from environmental technology and construction management services surged 76.3 per cent to HK$233.21 million.
The company’s share price has risen 4.6 per cent from the start of the year, compared to a 6 per cent gain of the Hang Seng Index. It closed 3 per cent higher in morning trade at HK$10.86.