SINGAPORE: Hyflux Water Trust is paying its unit-holders 0.87 Singapore cents for every unit held in the first quarter.

The distribution per unit (DPU) is in line with its first-half forecast DPU of 2.09 Singapore cents.

The trust reported a net profit of S$1.1 million on revenues of S$14.4 million.

There was no year-on-year comparison as Hyflux Water Trust was only formed in November last year.

As at 31 March 2008, eight plants have achieved commercial operations with a total design capacity of 265,000 cubic metres per day.

The trust said the utilisation rates of these plants have increased steadily and will continue to ramp up over time.

CEO Saud Siddique said the fundamentals of the water industry remain very positive, particularly in China.

He added that with no gearing at present, Hyflux Water Trust has substantial debt capacity to fund future acquisitions. - CNA/ir