Connecticut Water Revenue Surges in Third Quarter on Acquisition

Connecticut Water Service Inc. (CTWS), the biggest publicly traded water company in New England, reported third-quarter profit surged 58 percent following the purchase of a Maine water provider.

Revenue rose 12 percent to $29.6 million from the year-earlier period as net income reached $9.4 million after the December acquisition of Biddeford & Saco Water Co., said the Clinton, Connecticut-based utility that supplies drinking water to about 400,000 people.

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

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

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