Stiff market competition has forced Manila Water Co. Inc. to quit the bottled water business after five years. Its website says Healthy Family is a five-gallon bottled water with a shelf life of up to six months. In its latest quarterly report, Manila Water said Healthy Family sold 1.8 million bottles of drinking water in the first semester of 2020, down 37 percent from 2.9 million in the same period a year ago. Despite efforts to be cost-efficient, Healthy Family ended the period with a net loss of nearly P25 million. Manila Water shares gained 88 centavos or 6.66 percent to end at P14.10 each on Wednesday.

Source: Manila Times August 26, 2020 16:52 UTC