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مطابخ الوميتال - مجدى نبيل

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شركه القطب للمطابخ الالوميتال
168 شارع الوحده - امبابه
0233101188 - 01129798045

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News Report:

Calapan Ventures posts 36% drop in 2013 net income on higher operating costs

Calapan Ventures Inc., the listed water service provider in Oriental Mindoro's Calapan City, posted P21.8 million in net income last year, down 36 percent from  P34.49 million a year earlier, mainly eaten by operating expenses. 

Revenues were up to P165.76 million from P149. 74 million in the same comparable period, driven by a large number of water service connections, the water utility said in a disclosure to the Philippine Stock Exchange.

Service connections reached 13,276 from 12,113.

Despite raise the water rates by 20 percent in the last quarter of 2013, the cost of sales and services also went up to P86.56 million from P75.15 million.

“Cost of sales and services have been increasing primarily due to accrual of lease fee, repairs and maintenance of wells, depreciation (from capital investments made during the year), and power costs (due to higher rates and additional boosters) of Calapan Water,” the disclosure read.

Operating expenses increased to P44.2 million from P36.9 million, largely from professional and management fees. – VS, GMA News

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