China Water (00855) reported interim results yesterday, with revenue of about HK $6.473 billion, up 26.14 per cent from a year earlier, while profit attributable to company owners was HK $1.02 billion, up 23.38 per cent from a year earlier, Zhitong Financial APP learned. The stock rose more than 11% in intraday trading today. As of press time, it rose 6.9% to HK $8.98, with a turnover of HK $48.5642 million.

The announcement said that during the period under review, the group's "urban water supply operation and construction" and "environmental protection" divisions achieved steady growth. The total revenue of the "Urban Water supply Operation and Construction" and "Environmental Protection" divisions increased from HK $4.74 billion to about HK $5.742 billion, representing a steady and sustained growth of 21.1%, mainly due to the success of the Group's business development strategy. Growth is achieved through the acquisition of more construction and connection projects, operational efficiency improvements, higher water supply and sewage charges, and a number of mergers and acquisitions.