spot_img

Phnom Penh Water Supply Authority posts $7.4M in Q1’22 net profit

Harrison White

Publicly traded Phnom Penh Water Supply Authority (CSX:PWSA) has posted an after-tax profit of $7.46 million in the first quarter of 2022, a slight decrease year-on-year as ‘water losses’ around 8% of production remains an ongoing issue.

The majority government owned company’s stock price is currently trading at KHR 7,500 a share and was the first company to list on the Cambodia stock exchange in 2012 when its IPO floated at KHR 6,300.

The company posted an annual after-tax profit of $31.7 million for 2021 an increase of 30% from $24.17 in 2020. To read more about the company’s 2021 results click here.

The board announced an annual dividend for 2021 of 20.8% of profit payout equaling KHR 310 a share or 4.9% of IPO price an 18.32% year-on-year increase.

PPWSA revenue was over $20M for the quarter

In the company’s quarterly report Chairman H.E. Oum Sotha stated total revenues of $20.21 million and profit before tax of $10.02 million and basic earnings per share is KHR 348.29.

PPWSA invests in the construction, expansion, operation, and maintenance of means for the production and distribution of clean water and sanitation.

“The company aims to utilize all measures to increase production service and ensure clean water quality to meet the needs of living, business, service and industry. Doing business, services and other work related to water and sanitation in or outside the country as decided by the Board and in accordance with the law.

PPWSA share price over the quarter.

Cooperate on technical, trade and financial with development partners, both domestic and foreign, to expand and develop PPWSA in accordance with the policy of the Royal Government to ensure the sustainability of production.

In addition business and financial processes in conjunction with social benefits, increase staff efficiency and continue to build enterprise capacity, analyze cost factors and reform processes and procedures to reduce water costs, and strategically compare with water entities,” he said.

Increasing Phnom Penh’s potable water supply

Effective Service PPWSA keeps supplying clean water that is straight drinkable from the tap on a 24×7 basis. In the 1st quarter of 2022, we produced 56,386,251m3 of clean water.

The company laid the mains and distribution pipes of 114,743.21m and installed 6,606 new house connections, of which 202 Connections were for the low-income whom we always care for. Furthermore, the water loss accounted for 8.64%

PPWSA was and is still responsible for water treatment and supply to satisfy the demand of the population in Phnom Penh and for ensuring the balance of income and expenses in relation to its water treatment investment.

Telegram Channel

Cambodia's best investment news & views direct into your Telegram account.

spot_img

Related Posts

spot_img