Sanasa 2003 net profit up 36.7%

Brazilian city Campinas' water utility Sanasa posted a 29.1mn reais (US$9.98mn) net profit in 2003, up 36.7% from the year before, the utility said in a statement to the country's securities regulator (CVM). For the period, operating profit grew 12.5% to 19.3mn reais and gross revenue increased 10% to 232mn reais. According to Sanasa, the results were due to a 19.6% rates hike in July, a 3% increase in connections and efforts to combat water loss. Sanasa serves some 1 million residents in Sao Paulo state city Campinas, with drinking water coverage at 98% and sewage collection 88%, while sewage treatment stands at 14% with the recent inauguration of the Santa Monica plant.