WELLE Group announced solid results for the first half of 2019, marked by strong development in both revenues and profitability.
Revenue (?1.222B) was up by 25.33% compared to the year-earlier figure (?896M).
Profits (?157M) increased by 45.26% compared to the year-earlier figure (?108M).
R&D investment was up by 25.33%.
A total asset reached ?7.416B and was up by 2.82% compared to the figure by end of 2018 (?7.213B).
Zong Tao, WELLE CEO, commented:
WELLE Group’s had a solid operating performance in the first half of the year, with 25.33% growth in revenue and 45.26% up in net profit. The result is encouraging and we are on track to achieve our full-year goals. Our core business of leachate and solid waste keeps expanding market share benefiting from national policy and boom in garbage classification. Strategically, we are focused on building R&D talents team, enhancing the brand value of our products and services, improving the group management system and performing disciplined execution of projects. Our operating performance was also positively impacted by cost reductions. Looking forward, we are confident that environmental protection market will keep moving and we are well placed to benefit from the increasing market demand. We will remain improving operational efficiency and delivering high quality products and service to further strengthen our competitive position.
Through the first six months of 2019 we are on track to achieve our full-year goals. Revenue recognition and new orders remains solid. Revenue growth was driven by the continued robust commercial momentum. We will seize the favorable opportunities of the government’s environmental protection policies and plans, continue to develop our main business and expand the domestic business of landfill leachate treatment, kitchen waste treatment, food waste treatment, biogas engineering, industrial energy conservation and VOC pollution control.