Newly listed Maynilad Water Services, Inc. reported Thursday that its core earnings in the first nine months grew 18 percent to P11.4 billion despite market challenges.
In a stock filing Thursday, the company said its topline climbed 9.5 percent to P27.7 billion on the back of a tariff hike imposed early this year.
‘Our operational gains and disciplined execution show that our fundamentals remain sound, and that we are on track with our 2025 operational and financial objectives,’ said Maynilad president and chief executive officer Ramoncito Fernandez.
Maynilad is the water and wastewater services provider for the West Zone, covering 17 cities and municipalities in Metro Manila and Cavite.
It finally went public last week, raising about P34.3 billion as it secured the support of 12 cornerstone investors.