GEORGE TOWN (Yosefardi) – Consolidated Water Co. Ltd., which develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent, reported 2% revenues growth in second quarter of 2014.
Total revenues reached approximately $16.9 million, compared with approximately $16.6 million in the second quarter of 2013.
Retail water revenues increased 5% to approximately $6.5 million (38% of total revenues) in the most recent quarter, versus approximately $6.2 million (37% of total revenues) in the second quarter of 2013.
The increase in retail revenues was due to an approximate 8% increase in the number of gallons of water sold by the Company’s retail operations in the Cayman Islands and the Company’s facility in Bali, Indonesia.
Water sales by its operation in Bali increased as resorts and other properties purchased more water to offset dry weather conditions and deteriorating quality of ground water wells.