Manila Water Company Inc. said Thursday net income in the first half grew 3 percent to P3.13 billion from P3.03 billion in the same period last year, on higher billed water volume.
The east zone concessionaire said in a disclosure to the stock exchange revenues rose 4 percent to P8.77 billion in January to June from P8.45 billion a year ago.
Earnings before interest, taxes, depreciation and amortization reached P6.08 billion, up from P5.83 billion in 2015.
Manila Water said total billed volume increased 4 percent to 355.2 million cubic meters from 340 mcm a year earlier.
Billed volume in the Metro Manila’s east zone grew 5 percent to 239 mcm while Boracay Water’s billed volume climbed 12 percent to 2.5 mcm. Cebu Water’s billed volume jumped 40 percent to 5.1 mcm.
Manila Water said Kenh Dong Water in Vietnam reported a total billed volume of 28.9 mcm, or 4 percent higher than 27.7 mcm in 2015.
The company said its other Vietnamese unit, Thu Duc Water, saw a 1-percent decrease in billed volume to 53.9 mcm.
Water service connections in the east zone grew 3 percent to 992,614 from 962,490 connections in 2015.
Manila Water currently provides water and wastewater services to over 6.2 million residents of eastern Metro Manila and Rizal province.
The company earlier said it planned to provide water services to industrial parks in Southeast Asian countries. Manila Water said this would enable the company to double its earnings by 2020.