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Thessaloniki Water First-Half Profit Falls on Lower Consumption

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Aug. 30 (Bloomberg) -- Thessaloniki Water Supply & Sewage Co., the water utility in Greece’s second-largest city, said first-half net profit fell amid lower water consumption and a fall in corresponding sewage charges.

Profit in the six months to June 30 declined to 9 million euros ($11.9 million) from 11.3 million euros in the same period of 2012. Sales dropped to 36.2 million euros from 37.8 million euros, the company said today in a statement on its website.

The sales drop was also due to lower use of water in the construction industry given Greece’s ongoing economic recession, according to the statement.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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