Beijing Enterprises Water Profit Jumps 39% as Revenue Climbs

Aug 28, 2014 6:47 am ET

Aug. 28 (Bloomberg) -- Beijing Enterprises Water Group Ltd., the biggest publicly traded water-treatment systems developer in China, reported a 39 percent rise in first-half profit on higher sales.

Net income climbed to HK$714 million ($92 million) from HK$514.3 million a year earlier, the company said today in a filing to the Hong Kong stock exchange. Sales rose 38 percent to HK$3.82 billion.

Profit from water-treatment services surged 66 percent in the first six months ended June from a year ago, according to the statement. This segment accounted for 62 percent of Beijing Enterprise Water’s profit.

The company said it increased total daily water-treatment capacity by 9 percent from the end of 2013 to about 18.2 million metric tons as of June 30.

Beijing Enterprises Water shares slipped 0.8 percent to close at HK$5.31 in Hong Kong trading today before the results were announced. The stock has risen 9 percent this year.