Ayala-owned Manila Water Co. Inc.’s earnings grew 23% in 2010 due to higher sales volume.
In a disclosure, Manila Water said its net income reached P3.4 billion last year compared to P3.23 billion in 2009.
Operating revenues rose 15% to P11 billion from P9.5 billion, while billed volume improved by 3.5% to 409.8 million from 396 million cubic meters.
By end-December, non-revenue water dropped from 15.8% to 11%, the lowest on record. This allowed Manila Water to sustain its 24/7 delivery of potable water to existing and new customers added to its network.
“Manila Water’s ability to ensure reliable service is a direct consequence of the investments that the company has implemented over the past 13 years,” the water distributor said.
Last year, Manila Water invested a total of P9.6 billion to further improve the reliability and expand the coverage of its water and wastewater networks in the east zone, including parts of Manila, San Juan, Taguig, Pateros, Antipolo, Taytay, Jala-Jala, Baras, Angono, San Mateo, Rodriquez, Marikina, Pasig, Mandaluyong, Makati and most of Quezon City.
Moving forward, the company plans to invest P10 billion per annum over the next 2 years.
Most of the capital expenditures will be used for the development of new water sources, network reliability improvements, as well as the building of several sewerage treatment plants to further improve sanitation coverage in the company’s concession area.
