leadf
logo-loader
viewUnited Utilities Group PLC

United Utilities first-half earnings jump boosted by lower costs and regulator incentives

The FTSE 100-listed firm said its underlying pre-tax profit rose by 23.7% to £240.3mln for the six months to September 30, up from £194.3mln a year earlier, helped by lower net financing costs

Water
UU saw its revenue increase to £916.4mln, up from £876mln a year earlier, which largely reflected allowed regulatory revenue changes

United Utilities PLC (LON:UU.) saw its first-half earnings jump boosted by lower costs and incentives from the UK water regulator.

The FTSE 100-listed firm said its underlying pre-tax profit rose by 23.7% to £240.3mln for the six months to September 30, up from £194.3mln a year earlier, helped by lower net financing costs.

READ: United Utilities seen as sector ‘stand out’ as Deutsche upgrades

The company, which supplies water in the North West of England, saw its revenue increase to £916.4mln, up from £876mln a year earlier, which largely reflected allowed regulatory revenue changes.

Steve Mogford, UU’s chief executive officer, said: "The significant progress we have made positions us well for the remainder of the current regulatory period and beyond.

“We have responded well to the challenges brought about by the impact of more variable weather and have created a platform for continuing strong operational performance.”

The group hiked its interim dividend by 3.9% to 13.76p per share, up from 13.24p a year earlier.

Quick facts: United Utilities Group PLC

Price: 852.8 GBX

LSE:UU.
Market: LSE
Market Cap: £5.82 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

S-Ventures eyes 'opportunities to scale' in the wellness sector after...

S-Ventures PLC's (LON:SVEN) Scott Livingston talks to Proactive about their latest listing on the AQUIS and their plan to create value for investors and other stakeholders by capitalising on the investment opportunities in the growing wellbeing sector. Livingston goes on to explain their...

17 hours, 37 minutes ago

2 min read