Half Year 2020 Manila Water Company Inc Earnings Call Transcript
Good morning, ladies and gentlemen. Welcome to Manila Water Company's briefing on financial and operating results for the first half of 2020. I am Cecile Cruzabra, CFO of Manila Water, and joining me are the members of senior leadership team.
Though we are holding this briefing in a virtual format, we strive to provide you the opportunity to participate in this briefing to the same extent possible as in an in-person briefing. (Operator Instructions) We will try to address all questions during the webinar. If you have further questions, you may directly send it to us through Manila Water Investor Relations e-mail as shown in the screen.
Let's begin with the key messages summarizing our results for the first half of 2020. Consolidated net income in first half stood at PHP 2.5 billion, 1% higher than last year due to significant extraordinary expenses in East Zone last year related to the water shortage, but excluding one-offs, our
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