Solomon Water records 7 million profit.
Solomon Water has made 7.3 million profit in 2017 with a total of 1-hundred million dollars revenue.
Speaking during the State Owned Enterprise’s 25th Anniversary, Chairman Phil Bradford said this was a big achievement compared to 2013 when the company had accumulated a loss of 360 million dollars and a 7 million dollars revenue.
Mr Bradford said the 1-hundred million dollars revenue in 2017 helped the company re-invest in many ways.
He said, this achievement was the result of hard work and cooperation by the board of directors.
“When I took over we were losing a million dollars a month, now we are making progress,” he said.
” That’s not a lot of money in some people’s minds, but to us is a lot of money, every single penny we can afford is being reinvested in many ways .”
Mr Bradord said the company has a long way to go, but they are making strides.
He said they are currently making progress on their 30 year plan and 5 year action plan.
“Water is now accessible to everyone in Honiara 22 hours a day on average, our water is 98% world health compliant, which is a long way from what it was 8 years ago,” he said.
” Our strategy plans costs us a lot, around half million Australian dollars, but we did get the results.”
By : Allen Waitara.