Manila Water Co. Inc. booked a 37 percent jump in net income in the first half this year of P6.91 billion from only P5.05 billion a year ago.
The improved financial performance was traced to the 5 percent improvement in billed volume for the period of 686.5 million cubic meters (mcm) from only 650.9 mcm last year.
Consolidated revenue for the period totaled P18.35 billion, up 19 percent from P15.39 billion.
Billed volume in the East Zone went up 2 percent to 263.4 mcm compared to last year’s 258.9 mcm.
Other Manila Water subsidiaries posting higher billed volumes include Calasiao Water posting growth of 32 percent, Boracay Water with 13 percent, and Tagum Water with 11 percent.
“Our performance results are a clear indication of the resurgence in economic activity being experienced in the different areas we operate. Against this backdrop of potential growth opportunities, both in the communities we currently serve and in the markets which we look to enter, it becomes even more important that we are efficient in our operations and effective in our project execution. I am confident that we in Manila Water will be up for these exciting challenges ahead,” said Jocot de Dios, Manila Water president and chief executive officer.
Manila Water serves customers in Makati, Pasig, Pateros, Marikina, Mandaluyong, San Juan, Taguig, some parts of Quezon City and Manila; and several towns in Rizal province that include Taytay, Teresa, Angono, Antipolo, Baras, Binangonan, Cainta, San Mateo and Rodriguez.
It also has partner water districts in Tagum, Davao del Norte; Bulacan; Clark in Pampanga; Calasiao in Pangasinan; San Jose in Nueva Ecija; Laguna; Boracay in Aklan; Cebu; as well as with property developments through Estate Water.
Overseas, Manila Water operates in Thailand, Vietnam, Saudi Arabia, Indonesia and Myanmar.
