Manila Water 2012 Net Income Rises 28% as Billed Volume Climbs
Manila Water Co. (MWC), the Philippines’ largest publicly traded water provider, reported profit rose 28 percent last year to 5.44 billion pesos ($133 million), buoyed by higher billing volumes in the capital’s East Zone.
The water and wastewater utility that serves half of Manila also said today in a stock exchange filing that revenue rose 21 percent from a year earlier to almost 14.6 billion pesos.
Manila Water has water and sewage service partnership ventures in Vietnam and Thailand and last October acquired Suez Environnement Co.’s 51 percent stake in PT PAM Lyonnaise Jaya, which holds the concession contract for western Jakarta.
The shares fell 1.5 percent to 35.75 pesos in Manila, trimming gains this year of the Quezon City-based unit of Ayala Corp. (AC) to 12 percent.
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