Clinton’s Connecticut Water Service Inc. said its first-quarter profits increased 14 percent on higher revenue in its core business.
The company, which owns Connecticut Water Co. and Maine Water Co., booked net income of $3 million, or 27 cents per share, up from $2.6 million, or 24 cents, in the first quarter a year ago.
Revenue was $22 million, up 2.4 percent from $21.5 million. The increase was mostly due to an increase in its Connecticut infrastructure surcharge, as well as higher rates in Maine. The company services more than 50 cities and towns in Connecticut.
CT Water merged its subsidiary Biddeford & Saco Water Co. into Maine Water Co. in January.
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