Manila Water H1 net profit up 8% on robust sales

Listed water utility Manila Water Co. Inc. (Manila Water) reported an 8 percent rise in net profit for the first half, driven by a double-digit increase in billed volume to its concessions.

The Ayala Corp.-controlled unit said net income rose to P3.158 billion in the first six months of the year compared to P2.911 billion a year ago as total billed volume to its concessions grew 16 percent to 333.1 million cubic meters (mcm) from 287 mcm last year.