MANILA, Philippines – Manila Water Co. Inc subsidiary Clark Water Corporation posted a 20 percent increase in its net income in 2012 on higher billed volume.
Clark Water is the water and wastewater operator of Clark Freeport and the Clark Special Economic Zone.
The company reported a net income of P85.9 million in 2012 from P71.4 million in 2011.
The firm said its revenues grew 14 percent year-on-year, while its operating expenses were slightly reduced.
As of the end of 2012, the company has 2,000 service connections, most of which are for commercial and industrial locators.
“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 Jess Laigo, general manager and chief operating officer of Clark Water.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1
The company undertook in 2012 the installation of a new treatment plant, new distribution lines, and the construction of an additional deep well to address the increasing demand from its commercial accounts.
This enabled the company to triple its water supply capacity to 35 million liters of water per day
Clark Water also completed the repair of a major leak in mid-2012 which lowered the level of its system losses to 12 percent by the end of 2012.
Clark Water was formed in partnership with Clark Development Corporation, the administrative and governing body of the Clark Freeport Zone to provide water and wastewater services for the benefit of residents and commercial and industrial establishments in the Clark Freeport Zone and the Clark Special Economic Zone until the year 2025.