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US: Glacier Water profit up in Q3

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Glacier Water Service, the US water vendor, has reported a slight rise in net profit for its third quarter.

Glacier said today (6 November) that net earnings for the three months ended 28 September reached $686,000, compared to $606,000 in the same period last year.

Rising fuel costs and expansion investment have seen net loss for the first nine months of the year hit $2.67m, roughly flat when compared to 2007, however.

Revenue grew by 4.4% in the third quarter, to $27.3m, and 3.4% for the nine-month period. The group attributed the growth to the installation of an extra 750 vending machines, as well as an increase in average volume per machine.

"Same store revenue growth for the nine-month period continued its positive trend and was up 9.1%," said CEO Brian McInerney.


Sectors: Water

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