|
|
Article: Cagece makes profit over 2003.
- Article from:
- South American Business Information
- Article date:
- April 5, 2004
CopyrightCOPYRIGHT 2004 COMTEX News Network, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Brazil, Apr 5, 2004 (Gazeta Mercantil/SABI via COMTEX)
The water and sanitary service company of Ceara state, Cagece (Companhia de Agua e Esgoto do Ceara), registered a net profit of R$1.06mil in 2003, reversing R$9.6mil losses in 2002 and R$12mil in 2001. The company said that the expansion of network and clients, as well as the reduction of costs pushed the performance. It had a 12% increase in productivity in 2003-2002. Net income reached R$259.364mil in 2003, a 16.67% high over R$222.314mil in 2002, while operating income posted R$276.020mil, a 18.5% raise over R$232.762mil. Ebitda grew by 27.5% from R$53.9mil to R$68.7mil. Cagece invested R$58mil in the ...