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Saturday, December 16, 2017

MWC expects to recover from Q1’s profit decline

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by Madelaine Miraflor

Ayala-led Manila Water Co., Inc. (Manila Water) is expecting to see improved financial performance during the second quarter, a potential recovery from a decline it experienced in the first three months of the year.

“In April, the billed volume increase is very healthy compared to the first quarter. Actually the increase in April, the delta is higher than the first quarter delta in terms of mcm (millions of cubic meters) so that gives you an indication of how it could be for the rest of the year so we are not worried,” Manila Water President and CEO Ferdinand Dela Cruz said in an interview with reporters.

“For Manila Water’s Philippine ventures, our net income increased 36 percent year-on-year although on a small base. Manila Water Total Solutions increased 300 percent although again, on a small base. Our Asia Pacific is flat, so it’s really on the east zone and we are not worried because second quarter indicators are quite okay,” he added.

Manila Water holds the exclusive right to provide water and used water services to the east zone of the franchise area of the Metropolitan Waterworks and Sewerage System (MWSS).

The east zone concession is a 1,400 square kilometer area that covers 23 cities and municipalities in Metro Manila and Rizal.

These include Mandaluyong, Makati, Pasig, Pateros, San Juan, Taguig, Marikina, and parts of Quezon City, and Manila. The towns of Angono, Baras, Binangonan, Cainta, Cardona, Jalajala, Morong, Pililia, Rodriguez, Tanay, Taytay, Teresa, San Mateo and Antipolo in the province of Rizal are also part of the East Zone.

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