Consolidated Water Advances on Second-Quarter RevenueJustin Doom
Consolidated Water Co., the Caribbean water provider that’s expanded to Bali, Indonesia, rose the most in three weeks after reporting an increase in second-quarter revenue.
Consolidated gained 6.6 percent to close at $11.44 in New York. The stock has dropped 19 percent this year.
Revenue increased 2 percent to $16.9 million, the Georgetown, Cayman Islands-based company said today in a statement. Net income fell to $2.76 million, or 19 cents a share, from $2.85 million a year ago.
The company, which also has operations in the British Virgin Islands, the Bahamas and Belize, is planning to build a desalination plant in Mexico that would process 100 million gallons a day.