Anticipated rise attributed mainly to the absence of significant impairment losses that were recorded as at Dec 31, 2023
WASTE treatment group Zheneng Jinjiang Environment on Saturday (Feb 8) reported that it expects to record a “significant increase” in total comprehensive income for the second half of the year ended Dec 31, 2024, compared with the previous corresponding period, based on the preliminary assessment of the latest unaudited consolidated management accounts.
Full-year comprehensive income is likewise expected to increase significantly, compared with the total comprehensive income in the prior year.
The group said that this anticipated increase for H2 and the full year is mainly attributed to the absence of significant impairment losses of 271.8 million yuan (S$50.5 million) in aggregate, which were recorded as at Dec 31, 2023.
These impairment losses were due to “difficulties and uncertainty associated with projects in India”, which were formerly owned by the group. Zheneng Jinjiang Environment announced on Jun 1, 2024, that it had disposed of its whole stake in those projects to an unrelated third party.
Further details of the group’s performance will be provided when its results are released on or before Mar 1, it said.
Zheneng Jinjiang Environment shares fell 3.2 per cent or S$0.015 to S$0.45 last Friday, before the announcement.
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