Manila Water Co. Inc. on Tuesday said its earnings rose 61 percent last year to P5.92 billion from the previous year’s P3.67 billion on rising consumer demand.
Meanwhile, the increase in costs and expenses outpaced revenues with the onset of new, recurring costs. At Manila Water’s East Zone Concession, net income was up by 52 percent at P5.5 billion driven by higher revenues. Revenue recovery was mainly supported by the non-residential segment and higher connection fees, as well as cross border charges.