Net profit surges at capital’s water utility

The capital’s state-owned water utilities firm Phnom Penh Water Supply Authority (PPWSA) reported strong earnings in the first quarter of 2017, according to a filing to the Cambodian stock exchange (CSX) yesterday.

The disclosure document showed unaudited total revenue was $13.94 million during the first three months of the year, a 14 percent year-on-year increase. Total net profit reached $2.81 million, a 50 percent increase compared to the same period in 2016.

PPWSA attributed the increased revenue and profit to additional customers, construction services in Kampot province, and sales of spare parts and water meters.

Total assets for PPWSA grew to $324.8 million, according to the filing.