Manila Water unit posts 20% jump in 2012 earnings
MANILA, Philippines - Manila Water subsidiary Clark Water Corp. reported a net income jump of 20% to P85.9 million in 2012 from P71.4 million in 2011.
The water and wastewater operator attributed the increase to higher billed volume.
Clark Water tripled its water supply capacity to 35 million liters per day in 2012. It also cut its system losses by 12% by repairing a major leak. The company was able to boost capacity through the installation of a new treatment plant, the construction of an additional deep well and the completion of new distribution lines.
Clark Water had 2,000 service connections as of the end-2012.
“We intensified our key accounts management program last year. By focusing on further increasing our commercial and industrial customer base, we were able to expand our business and in turn support the locators in the metropolis by supplying them with water and wastewater services,” said Clark Water General Manager and Chief Operating Officer Jess Laigo.
Manila Water and Clark Development Corp. jointly own Clark Water. The company is expected to service Clark Freeport and the Clark Special Economic Zone until the year 2025. - Rappler.com