Moya's H1 profit up 23%

INDONESIAN water treatment company Moya Holdings Asia posted S$20.4 million in net profit for the six months ended June 2021, up 23 per cent from the year-ago period.

Earnings per share stood at 0.48 Singapore cent, up from 0.39 cent in the first half of 2020. The group's net asset value per share was 7.95 Singapore cents for the period.

Revenue for the period rose 8 per cent to S$125.4 million, up from S$115.9 million in H1 FY20, boosted by water sales to local water authorities in the cities of Bekasi and Tangerang in Java, as well as revenues from a water supply system in Batam, among other income streams.

Gross earnings were also lifted due to cost-efficiency programmes implemented over the years, the group said in a bourse filing after trading hours on Wednesday.

For the next 12 months, the group will focus on the organic growth of its unit PT Moya Tangerang, where the construction of a new water-treatment plant was completed in the first half of this year.

Another unit, PT Aetra Air Jakarta, is in talks with government-owned asset holding company PAM Jaya on development plans for an existing cooperation scheme for Jakarta.

The group said it is also looking to expand by participating in new tenders, as well as via mergers and acquisitions.

Moya shares ended Wednesday up 1.39 per cent or 0.1 Singapore cent at 7.3 cents.