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Current trading is in-line with the group's expectations
United Utilities anticipates group revenue for the first half of 2017/18 will be almost 3 per cent higher than its reported £853 million for the first half of last year.
In a trading statement published today (26 September), the company said the increase reflects “our allowed regulatory revenue changes, partly offset by the accounting impact of our Water Plus business retail joint venture, which completed on 1 June 2016.”
Underlying profit for the first half of 2017/18 is also expected to be higher than the first half of 2016/17.
The statement said: “Current trading is in-line with the group’s expectations for the six months ending 30 September 2017.”
United Utilities said it expects total regulatory capital investment for 2017/18, including infrastructure renewals expenditure, to be around £800 million.
“This continued high level of investment will help deliver further improvements in operational performance and customer satisfaction,” the statement said.
The company explained it is likely to see a small increase in group net debt at 30 September compared to 31 March 2017, as it continues to invest in its asset base.
United Utilities will announce its half-year results for 2017/18 on 22 November.
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