China Water Affairs Group - Extending the earnings growth record
Although FY19 revenue was below expectations, it was offset by higher than expected margins in the water supply business and a lower tax charge, allowing EPS to beat our forecast. China Water Affairs Group’s (CWA’s) 2013–19 compound annual growth rate (CAGR) in EPS now stands at over 27% and the group remains positive about its prospects. The current rating is undemanding for a company with CWA’s growth prospects.China Water Affairs Group Ltd, formerly China Silver Dragon Group Ltd, is an investment holding company principally engaged in city water supply operation and construction. The Company operates its business through three segments. The City Water Supply Operation and Construction segment engages in the provision of water supply operation and construction services. The Environmental Protection segment engages in the provision of sewage treatment and drainage operation and construction services, solid waste and hazardous waste business, environmental sanitation and water environment management. The Property Development and Investment segment engages in the development of properties for sale and investment in properties for long term rental.
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