United Utilities in line for strong full-year

 
City A.M. Reporter
United Utilities, the largest listed water utility, said trading in the second half had been slightly ahead of its expectations, putting it on track for a "solid" performance for the year.

The company said regulated revenue had continued the positive trend from the first half, but would be slightly lower in the second, reflecting seasonal changes.

"The full year position represents a healthy financial performance in light of the impact of the price review," said United Utilities, which was asked by industry regulator Ofwat to cut prices.

Analysts expect the company to report a full-year pretax profit of £302m, on revenue of £1.6bn.

Last month, Northumbrian Water and Pennon had also said trading in the second-half had been in line with estimates, despite the severe winter in Britain.

United Utilities said the harsh winter had led to higher leaks, but added additional costs associated with the weather were not significant.