China Environment, the provider of waste gas treatment systems, has turned in a profit after tax of RMB53.9 million ($11.2 million) on revenue of RMB499.6 million for the 12 months ended 31 December 2009.
The difference between its profit after tax of RMB53.8 million as at 31 December 2009 and the RMB82.9 million it recorded in the same period last year was due to a RMB29.3 million one-off impairment of goodwill resulting from the reverse take-over (RTO) exercise of Gates Electronics.
