Standard content for Members only
To continue reading this article, please login to your Utility Week account, Start 14 day trial or Become a member.
If your organisation already has a corporate membership and you haven’t activated it simply follow the register link below. Check here.
United Utilities (UU) has forecast a rise in profit for the year ending March 31 2014, following a regulated price rise of 5.8 per cent for that year.
The price rise will “moderately” increase the company’s underlying profit from £190m before tax in 2012-13, it said. The company, which like many others is not taking its full allowed price increase this year, completed an investment programme of £800m in 2013-14. As group net debt is expected to remain constant, gearing will fall, reflecting this growth in regulatory capital value.
UU said its current trading is in line with the group’s expectations and its customer service was continuing to improve. It said the company is ahead of schedule in delivering its 2010-15 regulatory outperformance targets.
The company will announce its full year results on May 22 2014.
Please login or Register to leave a comment.