Despite plenty of rain for the first six months of the year, Watlington Waterworks Limited’s total profits rose for the period — the company reported $967,146, compared to $838,761 for the same period of 2013.

The financial report also reflected an increase in total revenue for the period, $4,816,760 compared to $4,689,544 last year.

Assets were also up, from $25,453,569 at the end of December, to $26,166,768 to June 1 of this year.

The company owns three business operations: the Utility Division, that operates under the descriptive name of Watlington Water to produce and distribute fresh water, Pure Water which manufacturers bottled water and Water Depot, a retail plumbing store.

The directors’ report to shareholders stated that heavy rain in the first quarter suppressed demand, “and then as we dried out in the second quarter demand for our products and services increased substantially. Overall the first half of this year produced a more favourable result this year when compared to last year.”

Infrastructure projects dominated the first half of the year, stated the report. The company added that its Somerset pipeline project was ongoing as “it advanced to the junction of Somerset Road with Sound View Road prior to the cruise ship season starting”.

Work also is being carried out in the City of Hamilton. “Pipeline replacement continued in Hamilton as part of coordinated infrastructure strengthening with other utilities,” the report stated. “The streets of Hamilton are a challenge due to the congestion of underground infrastructure which makes installing new or replacing old infrastructure very time consuming.”

It also pointed to the installation of a new brackish water reverse osmosis plant as the most important project of the first half of the year. “The new facility has been designed to utilise the modern technology to reduce energy consumption and improve product quality.”

Watlington Waterworks stated: “The company’s business cycle has always paralleled our seasons with the third quarter normally a very strong quarter. The past two years has been unusually alike with above average rain in the early part of the year followed by a dry period to close the first six months and open the second six, which is then followed by heavy summer rains.

“We do not know if the script will change for the remainder of the year, but this August produced record rainfall that has filled all tanks thereby minimising demand for our company’s products.

“Year-to-date results are lagging behind previous years bar last year which was our weakest in the past five years. As was the case at the same stage last year, it will take another period of dry weather to re-establish substantial demand. As the year advances this becomes less likely. It is anticipated this year will produce a result similar to last year.”