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South West Water is reporting strong performance against the 2010-15 investment programme and healthy water resources despite low rainfall last spring.
In an interim management statement, holding company Pennon said the group, which includes recycling business Viridor, was on track to meet management expectations.
It said shareholders could expect to receive appropriate returns for expenditure on private sewers adopted on 1 October 2011, when the network increased by 50 per cent.
Also in October, the water firm signed a £60 million loan from the European Investment Bank. Further finance was secured from a £40 million revolving credit facility and £140 million of finance lease facilities.
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