Sabesp, Sanepar show dramatic rise in profits

São Paulo state water company Sabesp, Latin America’s largest water and sewerage company, boosted its profit and debt performance last year. Year 2000 financial results are likely to bolster investor interest in the purchase of the state’s 88% stake. No date has been given for the sale but some analysts believe it could take place later this year following approval of a bill that would overhaul Brazil’s water and sanitation sector (see GWI, Vol. 2, Issue 3, p.4).

Sabesp (Companhia de Saneamento Básico do Estado de São Paulo) made a profit of R$521 million (US$239.5 million) on turnover of R$3.35 billion (US$1.54 billion) last year. Profits were the second best ever, bettered only by the R$542 million (US$249 million) registered in 1998.

More significant than the profit figure was the fact that Sabesp turned round a R$235 million (US$108...

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