Consolidated Water Profit Rises 52% on Bulk Water Sales, Bahamas
Consolidated Water Co. (CWCO), the largest seawater desalination plant operator in the Caribbean, reported a 52 percent increase in profit, buoyed by bulk water sales and the expansion of the Blue Hills facility in the Bahamas.
Net income rose to $9.3 million in 2012 compared with $6.1 million a year earlier, the Georgetown, Cayman Islands-based water company that trades on the Nasdaq said in a statement. The Blue Hills plant in Nassau is the biggest seawater reverse- osmosis facility operating in the Bahamas.
The company, whose management is based in Grand Cayman and Florida, said it’s pursuing new projects that include a proposed 100 million gallon per day water-purifying plant in Baja California, Mexico, and is nearing completion of its first desalination facility in Bali, Indonesia.
Consolidated Water operates water production and distribution facilities in the Cayman Islands, the British Virgin Islands, Bahamas and Belize. It produces about 27 million gallons of drinking water a day.
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