Manila Water First-Half Profit Rises 31% as Billing Volume Gains

Manila Water Co., which supplies water to half of the Philippine capital, said first-half net income increased 31 percent to 2.63 billion pesos ($63 million) from a year earlier on higher billing volume.

Revenue rose 24 percent as the total billed water volume increased 36 percent, the utility said today in a stock exchange filing. The company, a unit of Ayala Corp. (AC), didn’t provide second-quarter figures. The stock closed unchanged at 25.95 pesos.

Manila Water on July 20 said it had acquired through its Singapore unit a 47 percent stake in the Vietnamese water distributor Kenh Dong Water Supply Joint Stock Co. The utility bought 49 percent of Thu Duc Water BOO Corp. last November.

To contact the reporter on this story: Norman P. Aquino in Manila at naquino1@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.