Water groups warn the regulator on price limits November 22, 2009 WATER companies are set to cut dividend payments and thousands of jobs if Ofwat goes ahead with planned price restrictions this Thursday, they warned yesterday. Regina Finn, chief executive of Ofwat, has come under political pressure to keep prices down for customers but equally this weekend there were signs there could be some sort of [...]
Thames Water warns of a funding gap, but profits are on stream despite slump November 30, 2009 UTILITY Thames Water said yesterday it was facing a potential gap in funding as the downturn threw up a series of “significant challenges” for the industry. Soaring bad debt and the increasing cost of financing “will make it more difficult to fund the essential investment in the network that is required,” it said yesterday, as [...]
United Utilities feels the pressure in the recession November 25, 2009 UNITED UTILITIES, the biggest water company in the UK, yesterday said its profit had risen by one per cent to £370m, but that it had been hit by tumbling demand from businesses and homes in the downturn. Turnover rose 0.5 per cent to £1.2bn in the six months to 30 September, and the group proposed [...]
Water firms cheer ruling November 26, 2009 WATER companies breathed a sigh of relief yesterday, as industry regulator Ofwat’s price ruling proved less aggressive than anticipated. In its long awaited report on pricing structure at the utilities, the regulator said bills in England and Wales would increase by an average of 0.5 per cent a year between April 2010 and March 2015. [...]
Severn Trent profits rise as prices go up November 24, 2009 UTILITY Severn Trent saw its pre-tax profits surge yesterday, as a slump in consumption was offset by price rises. Profits went up by 51 per cent to £208.2m in the six months to September, beating analysts’ expectations. But Severn Trent still warned that demand was falling at a similar rate to last year. The group, [...]
THE TIPSTER January 31, 2010 FRIDAY’S upbeat house price data from the Nationwide was well received by home owners, but it might only last for the short-term. Whether the upward trend in home values can be sustained for any length of time is clearly open to debate. The prospect of rising interest rates threatens to squash demand as mortgage repayments [...]
HOW WILL BT’S COMPETITORS REACT TO THIS PROPOSAL? December 1, 2009 TOM GIDLEY-KITCHIN CHARLES STANLEYRivals to BT have been wholly against this right from the start. Why should people like Carphone Warehouse be penalised because BT cannot manage its pension? I think a compromise will be the end result of all this and I don’t think it will be massively negative for BT’s competitors.ROBIN BIENENSTOCK BERNSTEINA [...]
Concern over Dubai’s debts takes toll on Britain’s shares November 26, 2009 Britain’s top shares ended at a three-week closing low yesterday, pressured by hefty falls in the banking sector as concerns over Dubai’s ability to pay its debts took a toll on confidence. The FTSE 100 ended down 3.2 per cent, or 170.68 points, at 5,194.13, its lowest close since November 6, and losses on the [...]
THE TIPSTER CHRISTMAS WILL BE KEY FOR TED BAKER November 22, 2009 DESIGNER retail brand Ted Baker indicated that business has been good in recent interims as consumers reacted positively to its current collections. It has seen an 18 per cent drop in profits this year, but sales were up 19.8 per cent from this time last year. Ray Kelvin, its CEO, expects it to weather the [...]
United profit withstands September 23, 2009 UNITED UTILITIES, the water company, said its forecast for underlying operating profits over the six months to the end of September were in line with expectations, despite cost pressures. United, which supplies around 7m customers across the north west, said revenue growth in its regulated business for the year would be lower than the six [...]