EuroTech Holdings Company Limited, incorporated in the British Virgin Islands and engaged in manufacturing of instruments and equipment in the area of water and waste water treatment, announced its unaudited financial results for the six months period ended June 30, 2009.
For the reported period, BVI company’s revenues were approximately $14,122,000, 5% more than in the same period ended June 30, 2008 when EuroTech reported revenues of $13,389,000. The net income for six months ended June 30, 2009 was approximately $11,000, as compared to $4,000 for the six months ended June 30, 2008. Company’s net income per ordinary share, basic or diluted, was US$0.0009 in the reported period, while in the same period of 2008 it was US$0.0003. The increase in revenues and income was principally due to the contribution from BVI company’s affiliates Blue Sky and Jia Huan.
For the six months period ended June 30, 2009, Eurotech reported gross profit of $3,080, 000, compared to $3,187 for the same period of 2008. Total assets of the BVI company were $27,010,000 as of June 30, 2009 ($28,278,000 as of December 31, 2008)
Chairman and CEO of Eurotech, Mr. T.C. Leung, commented the unaudited results, saying that 2009 was “a tough year” for the company, as the global financial crisis affected most of its customers, including multinational companies, and Chinese small and medium enterprises, in their investment decisions. He also said that during the reported period, the company has been spending more resources to develop more new environmental protection instruments and equipment, working on a number of engineering projects to be launched in early and mid 2010, and taking part in more related exhibitions to promote their products in China and in the other markets.