Half Year 2019 Manila Water Company Inc Earnings Call Transcript
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our Group Director for our Corporate Project Management; and Mr. Rodell Garcia, Senior Adviser to the SLT; and Ms. May Quinto (sic) [Maidy Quinto], Subsidiary Operations Group Director.
This morning's presentation will cover our consolidated financial and operating results for the first half of the year. We will further discuss the key operating and financial results of the Manila Concession, our operating subsidiaries in the Philippines under Manila Water Philippine Ventures, our subsidiaries in the region under Manila Water Asia Pacific and Manila Water Total Solutions.
I shall begin with the key messages summarizing our results for the first half of 2019.
Consolidated net income stood at PHP 2.9 billion for the first half of the year, 18% lower than the same period last year. Manila Concession net income declined 25% to PHP 2.5 billion. Nevertheless, the company continues to improve on its operations recovery with water availability to 99% of the
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