The Cambodia Securities Exchange (CSX)-listed state-owned utility, Phnom Penh Water Supply Authority (PPWSA) has seen its revenue increase by more 31 percent in the second quarter of this year, according to a report, filed to the CSX.
PPWSA had a total revenue of $18.37 million in the second quarter, an increase of 31.41 percent year-on-year.
The report showed that the company’s net profit was $3,861,982, a 71.44 percent increase compared with the same period last year.
In its eighth annual general shareholders’ meeting in June, PPWSA said it is targeting $79.83 million in revenue in 2020 with a net profit of more than $24.60 million.
In 2019, PWSA revenue declined by more than 18 percent to $52.79 million from $64.65 million in 2018.
For the third quarter of 2020, PPWSA plans to produce 58,313,600 cubic metres of clean water supply with the expansion of an additional water distribution network of 49,500 m.
In 2019, the company produced 221,656,505 cubic metres of clean water supply with 23,035 new users in the city connected to potable water.
The company said that for the year 2020, it would increase its capacity to produce 227,009,290 cubic metres of clean water and add 20,000 more new users.
As of June 30, 2020, PPWSA’s total assets worth more than $409 million or 4.36 percent increase. The report shows the company’s total capital is $229 million, up 2.45percent.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.