United Utilities on track for targets

Waste and water group United Utilities said today that it is trading in line with expectations, although it said that revenue had increased at a rate slightly below the regulated price rise.

This reflected the ongoing impact of a tough economic climate, the FTSE 100 utility firm said this morning.

Depreciation, power and other costs also increased, which weighed on the increase in revenue.

The water firm added that it continued to make good progress on its capital investment programme, and remained on track to invest around £750m in its portfolio this year.

“United Utilities is confident of delivering a good underlying financial performance for the year ending 31 March and continues to be on track to meet its 2010-15 regulatory outperformance targets,” it said today.