Hyflux reported 3Q results, revenue at $137.4m, +9% yoy and flat compared to Q2 -2%qoq. Net profit to owners was less satisfactory, at $19.0m, +5%yoy, a drop of -30%qoq. This was attributable to a forex loss by a weak US dollar. Net profit margins remained stable at 13.8% compared to 3Q09 at 14.3%. Est EPC orderbook of S$500m should last till 2011…
Key regions remain as China 29% and Middle East North Asia 62%% indicating slight shift towards China rev growth. Projects in Algeria include its key rev driver, the desalination project in Magtaa, and another in Tlemcen due for commissioning soon. EPS for 3Q was 3.36c, below Bloomberg consensus of 4.4c…
Company has proposed a bonus issue of 1 Bonus Share for every 2 existing ordinary shares, likely to improve liquidity. Further announcement will be made on the book closure date.
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