Manila Water Revenue May Be Better Than a Year Earlier, CFO Says

Revenue this year from Manila Water Co., which supplies water to half of the Philippine capital, will probably be better than a year earlier, Chief Financial Officer Luis Juan Oreta said today.

Second-half sales will increase from a year earlier even if revenue won’t be as strong as in the first half, he said in Manila. The shares gained 0.8 percent today, raising the stock’s advance this year to 39 percent, almost twice as much as the 18- member Bloomberg World Water Index’s 20 percent gain.

Manila Water’s first-half net income increased 31 percent to 2.63 billion pesos ($63 million) from a year earlier on higher billing volume, it said on Aug. 8. Revenue rose 24 percent as the total billed water volume increased 36 percent, the utility said.

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

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