Cedae narrows losses in H1

Rio de Janeiro state water utility Cedae posted a 73.8mn-real (US$24.6mn) net loss in the first half, compared to a 124mn-real net loss in 1H03, Cedae said in a filing to the country's securities regulator (CVM). For the period, gross revenue was up 19.8% to 1.1bn reais, and operating losses stood at 73.8mn reais, compared to a 150mn-real operating loss in 1H03. In 2003, Cedae posted a 498mn-real net loss, compared to a 640mn-real net loss the year before. Cedae provides water services to 14.7 million residents in 63 municipalities throughout the state, producing close to 148B liters/month of water. Its water supply network stretches close to 14,000km and its sewage collection network some 5,000km.