Caribbean’s Largest Water Company Reports Profit Climbed 46%
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Consolidated Water Co., the largest seawater desalination plant operator in the Caribbean, said second-quarter profit climbed 46 percent to $2.85 million from a year earlier. The shares rose today to a one-month high.
The stock has surged 48 percent the past year. The Georgetown, Cayman Islands-based company is expanding with projects that include a water-purifying desalination plant and pipeline in Baja California, Mexico, and commissioned 250,000 gallons a day of capacity using seawater reverse-osmosis for a resort in Nusa Dua on the Indonesian island of Bali.