KUALA LUMPUR (Aug 9): Johor-based water and utilities firm Ranhill Holdings Bhd has registered a 6.6% rise in net profit to RM15.43 million or 1.74 sen per share for the second quarter ended June 30 from RM14.51 million or 1.63 sen a year ago. 

Revenue climbed 3.12% to RM379.47 million from RM367.98 million previously, mainly contributed by the environment segment, owing to the increase in the volume of water consumption in SAJ Ranhill Sdn Bhd. 

In the first half, Ranhill recorded a 11.1% increase in net profit to RM33.57 million from RM30.21 million in 1HFY17, while its revenue inched up by 2.8% to RM739.76 million from RM719.93 million.  

Ranhill said it targets to own and operate power plants that deliver clean energy of 1,000 megawatts (MW), and 3,000 million litres per day (MLD) of water and wastewater treatment capacity, 700 MLD from the international segment by 2022, particularly in China and Thailand.  

"Growth in the local environment segment is expected to be supported by the increasing demand in water for the state of Johor, especially with the development of new housing and industrial areas," it said in a Bursa Malaysia filing today, adding that its domestic capacity is expected to grow 3% to 4% annually. 

"We are bullish in securing more industrial water and wastewater treatment projects, with an additional treatment capacity not only from Amata Industrial park, but other industrial parks in Thailand," the filing added. 

Ranhill closed up a sen or 1.49% to 68 sen today, for a market capitalisation of RM604.06 million.