Manila Water Co. Inc. reported a consolidated net income of P2.48 billion in the first half of 2020, an increase of just 1 percent from the amount in the same period a year ago. During the period, the East Zone concessionaire’s net income stood at more than P3.04 billion, mainly because of the increased expenses last year resulting from the raw water shortage that hit countless customers. “It’s been very challenging for us to work under the conditions posed by the Covid-19 pandemic, but we persevere because we know that we provide an important and basic service. In the end, we know that the solutions we develop to overcome these challenges, will help us serve our customers even better,” Manila Water President and Chief Executive Officer Jose Rene Almendras said. Manila Water shares ended flat at P13.16 on Friday.

Source: Manila Times August 14, 2020 16:41 UTC