Steady customer demand and economic recovery boosted Manila Water Co. Inc.’s net income in 2022 to P5.9 billion, up by about 59 percent from P3.7 billion in the previous year, despite rising costs and expenses. | MegINQ
Consolidated revenue grew by 11 percent to P22.8 billion, on the back of commercial and industrial segment recovery in both East Zone and non-East Zone groups.
Capital expenditure, however, was at P22.4 billion due to the higher costs of repair and maintenance, as well as connection and collection activities, as the firm resumed projects that were postponed due to quarantine restrictions previously imposed. Net income from Manila Water’s non-East Zone-international businesses dropped by 52 percent to P152 million.
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