Cascal's growth in China fuels profit

NEW YORK (AP) - International water and waste company Cascal N.V. said Wednesday that its fiscal fourth-quarter profit more than quintupled as new acquisitions revved up sales.

Cascal said fatter profits also came from rate increases and higher sales volumes.

Over the entire year, revenue from China, one of eight countries the company operates in, jumped 50 percent.

The company earned $4.6 million, or 15 cents per share, in the three months ended in March, up from $800,000, or 2 cents per share, a year ago.

Revenue climbed 29 percent to $48.9 million.

For the full year, Cascal made a profit of 23.5 million, or 77 cents per share, up 32 percent from $17.8 million, or 58 cents per share, the year before.

Full-year revenue climbed 11 percent to $181.8 million.