Manila Water Rises to Record Ahead of Release of 2012 EarningsIan Sayson
Manila Water Co., which provides water to half of the Philippine capital, rose to the highest since the stock begin trading almost eight years ahead of the release of 2012 earnings.
Manila Water is scheduled to hold an analyst briefing tomorrow to discuss the results. The company is expected to report a 4.93 billion-peso ($121 million) profit in 2012, according to seven analysts’ forecasts compiled by Bloomberg. Manila Water had a 4.27 billion-peso profit in 2011.
The shares closed up 4.2 percent today to a record 36.30 pesos, raising Manila Water gains the past year to 68 percent.