Logo of Phnom Penh Post newspaper Phnom Penh Post - PPWSA profits up, pays $2.2M dividend

PPWSA profits up, pays $2.2M dividend

PPWSA profits up, pays $2.2M dividend

The Phnom Penh Water Supply Authority – one of two listed companies on the Cambodia Securities Exchange – earned an after-tax net profit of $11.43 million last year, up 20 per cent from 2013.

PPWSA said this recent growth will be used to pay out a dividend of 9.15 billion riel, more than $2.2 million, on April 24, with each shareholder receiving 105.2 riel, or $0.026, per share, nearly double from last year’s 54.75 riel.

The state-owned water utilities firm’s reported revenues stood at $39 million for 2014.

Ros Kimleang, chief of accounting and financial department at PPWSA, attributed the growth to the expansion of the water business in Phnom Penh.

Kimleang added that construction for the second phase of the Niroth Water Production Facilities plant will be completed in late 2016, expanding PPWSA’s production by another 130,000 cubic metres of water per day.

“The increase in net profit allows us to distribute bigger dividend to investors,” he said. “It is the main factor that will push more trading activity into the stock market.”

He said the company will also expand its coverage to urban areas and industrial zones to the west of Phnom Penh, in order to catch up with population growth there.

Svay Hay, president and CEO of ACLEDA Securities, said that PPWSA has achieved a sweet spot by managing to increase profits, respond to growing water needs, and maintain public trust that it has built.

“Companies with substantial profitability have the opportunity to invest more in additional growth,” he said.

“Both investors with a [long-term] investing approach and a [shorter-term] income investment approach will enlarge their portfolios.”

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