United Utilities trading in line

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

This reflected the ongoing impact of a tough economic climate, it said.

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 asset base this year.