COMPANY RESULTS
- From: Vol 4, Issue 2 (February 2003)
- Category: Need to know
- Region: Unspecified
- Country: South Africa and Spain
- Related Companies: Aguas de Valencia and Umgeni Water
South Africa: Umgeni Water slipped back into the red for the interim period to December 2002. The company reported a loss of R7.1 million ($850,000).
In the previous six months it made a profit of R22.6 million ($2.7 million) and in the year ending June 2002 it reported profits of R44.3 million ($5.3 million). The poor results were due in part to Umgeni not implementing a 22.3% tariff rise to its two biggest clients: Maritzburg Council and Durban Metro Water ...
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