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Hyflux 2nd-Quarter Profit Rises 21% on Asian Expansion

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(Corrects time reference in first paragraph for story published on Aug. 2.)

Aug. 2 (Bloomberg) -- Hyflux Ltd., Singapore’s biggest water-treatment company, said profit rose 21 percent in the second quarter from a year earlier as business expanded in Asia.

Net income was S$17.5 million ($14 million) in the three months ended in June, from S$14.5 million, the company said in a statement to the Singapore Stock Exchange. Sales surged 71 percent to S$190.4 million, mainly from projects in Asia outside China.

“The global outlook remains challenging,” Olivia Lum, Chief Executive Officer of Hyflux, said in the statement. “However we still see opportunities in the Middle East and North Africa region and we are well positioned to capture these.”

To contact the reporter on this story: Winnie Zhu in Singapore at wzhu4@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net