Manila Water H1 net income up 3%

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Manila Water Co. Inc. reported a 3 percent gain in consolidated net income in the first six months of the year to P3.219 billion from P3.138 billion in the same period in 2016.

In a disclosure to the local exchange, the Ayala-led company posted consolidated revenue of P9.124 billion, up 4 percent from P8.769 billion in the same comparable period.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to P6.128 billion from P6.084 billion.

Total billed volume climbed by 3 percent to 366.9 million cubic meters (mcm), up 3 percent from 355.7 mcm.
Subsidiaries Cebu Water and Laguna Water added 24 percent and 19 percent, respectively. The Boracay Water concession saw a 10 percent rise in billed volume.


However, billed volume in Kenh Dong Water concession decreased 2 percent.
Total billed connections in its Manila concession went up 3 percent.

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