Aqua America Posts Improved Q2 Profits

Aqua America has posted a profit of $30m for the quarter ended June 2010 compared to $26m during the corresponding quarter a year earlier.

Revenues for the quarter increased 6.6% to $178m compared to $167m in the same period in 2009.

Its operating revenue for the first half of 2010 totalled $339m, boosted by a fair return from investments and cost control measures.

The US-based water utility serves three million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, New York, Indiana, Florida, Virginia, Maine, Missouri, South Carolina and Georgia.

The company has invested $141m in the last six months and plans to invest another $300m by the year’s end to improve water infrastructure.