New environmental protection projects lift net
China Everbright International, a Beijing-backed investment firm focused on the environmental protection business, said first-half profit almost doubled as more projects started operations.
Net profit jumped to HK$167.55 million, up 94.63 per cent from a restated HK$86.09 million a year earlier. Turnover increased 43.22 per cent to HK$519.69 million.
The company declared an interim dividend of 0.6 HK cent per share.
Turnover from the environmental protection business jumped 47 per cent to HK$468.8 million, accounting for 90 per cent of total turnover.
The red-chip conglomerate operates and is building more than a dozen environmental protection projects, mainly sewage treatment plants and waste-fuelled power plants, in Jiangsu and Shandong provinces.
Earnings before interest, taxes and amortisation from the environmental protection business jumped 162 per cent to HK$146.58 million as more sewage and waste was processed.