ecoWise Holdings, the Singapore-based resource recovery, renewable energy and integrated environmental management solutions provider, reported a 1.2% decline in earnings to $0.317 million for the three months ended 30 April 2013 (2QFY2013) compared to $0.312 million a year ago (2QFY2012). Revenue fell 24.3% to $18.2 million from $24.1 million. Earnings per share fell 8.1% to 3.4 cents from 3.7 cents.
The Renewable Energy segment recorded marginally lower revenue in 2QFY2013 mainly due to lower collection of biomass and revenue attributed to applications of waste steam. The group also recorded lower overall gross profit margin of 21.5% in Q2 FY2013 as compared to 21.9% in Q2 FY2012. Due to lower revenue, the group’s gross profit of $3.93 million for 2QFY2013 was $1.35 million lower as compared to 2QFY2012.
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