Manila Water H1 profit jumps 31% to P2.63B


Posted at Aug 08 2012 04:19 PM | Updated as of Aug 09 2012 04:19 PM

MANILA, Philippines - Ayala-led Manila Water said its net income grew by 31% to P2.63 billion in the first half of the year, from P2 billion a year ago.

Manila Water, the concessionaire for the East Zone, said its revenues jumped 24% to P7.19 billion in the first six months of the year, from P5.8 billion a year ago.

Operating expenses also went up 43% to P2.13 billion in the January to June period, from P1.48 billion during the same period last year.

Total billed volume increased to 36% to 282 million cubic meter (mcm) compared to a year ago's 207.5 mcm. The bulk is from the East Zone (211.5 mcm), while the rest is from Laguna Water, Boracay Water, Clark Water and Thu Duc Water in Vietnam.

The East Zone covers parts of Manila, San Juan, Taguig, Pateros, Marikina, Pasig, Mandaluyong, Makati, most of Quezon City, and Antipolo, Taytay, Jala-Jala, Baras, Angono, San Mateo and Rodriguez in Rizal province.