Sabesp Reports Profit Up Fivefold on Higher Water Sales
Cia. de Saneamento Basico do Estado de Sao Paulo, Brazil’s largest water utility, reported a 361.8 million-real ($175 million) profit, in the third quarter, a fivefold increase from a year earlier.
The higher net income resulted from revenue increasing 120 million reais, or 4.6 percent, on increased water supply and sewage collection combined with lower construction expenses, Sao Paulo-based Sabesp said yesterday in a statement.
The company has risen 69 percent in Brazil since the start of the year, the second best return among 14 publicly traded water utilities in the Americas.
To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net
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