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Severn Trent’s guidance unchanged following ‘strong’ performance February 2, 2022 Water giant Severn Trent announced today its guidance to deliver ‘at least £75m’ in customer ODI rewards has remained unchanged following a ‘strong operational performance’. In the period to 2 February, the FTSE-100 firm reported that 90 per cent of its customer ODI measures remained ahead of target, including a 100 per cent registered on [...]
Water firms turn on taps with £2.7bn investment pledge July 15, 2021 The UK’s water companies will pour a total of £2.7bn into environmental improvements over the next five years, it was announced this morning. On top of £1.9bn of pre-planned spending, sector regulator Ofwat has this morning approved an extra £793m of investment. The watchdog said that the additional spending would “allow water companies to take [...]
Severn Trent to raise £250m to fund green projects May 19, 2021 Severn Trent announced this morning that it would seek to raise £250m through a share placing in order to fund six new green projects. The water firm said that the shares, are expected to represent up to 5 per cent of its existing share capital, would be priced at 9717/19 p each. The proceeds will [...]
Severn Trent raises dividend despite fall in profits November 21, 2019 Severn Trent raised its dividend this morning despite a fall in profits due to its deferral of customer incentives and increased investment in infrastructure renewals. Read more: Severn Trent announces new chair Shares in the utility slipped over 1.5 per cent in the morning’s trading. The figures Severn Trent announced revenue of £910m for the [...]
United Utilities profits rise as it worries over ‘uncertainty’ of Corbyn’s nationalisation May 23, 2019 United Utilities said the prospect of nationalisation was causing uncertainty in the water sector as it pushed its work to help customers this morning. The figures Revenue at the listed water company grew 4.8 per cent to £1.8bn in the year ending March, the firm revealed today. Read more: Severn Trent chairman to step down [...]
Severn Trent chairman to step down as water firm implements new business plan May 7, 2019 Water firm Severn Trent said today its chairman Andrew Duff is to step down after nine years at the helm. Read more: Locals' attempts to thwart Severn Trent's Dee Valley Water takeover fails The departure comes amid the company gearing up to implement its new business plan after being awarded fast track status by Britain’s [...]
Six tips to protect your portfolio during a market downturn April 3, 2019 When equity markets took a turn for the worse towards the end of last year, the onslaught of predictions about the end of the 10-year bull run came flooding in. With the markets creeping upwards since the start of 2019, it now seems that expectations of a bear market were premature. Even experienced fund managers [...]
Regulator Ofwat rejects water firms’ five-year business plans for ‘failing customers’ January 31, 2019 Seven of the UK’s leading 10 water companies’ business plans for the next five years have been rejected by Ofwat because they do not “deliver for customers”. In the regulator’s initial assessment of industry players’ plans for 2020-2025, only three companies were given the green light. Four companies – Affinity Water, Hafren Dyfrdwy, Thames Water [...]
Water giant Seven Trent rides out long, hot summer as interim results remain steady November 22, 2018 Water companySevern Trent’s shares remained steady this morning as it published solid interim results with small profit gains and more than £300m invested in the first six months. The figures The group reported £299.1m profit for the six months to 30 September, up 4.3 per cent from the same period last year. Meanwhile, it saw [...]
FTSE 100 roundup: Today’s winners and losers November 2, 2018 The FTSE 100 lost ground today, with the index down 8.05 points at 7,106.61 shortly before the market close. Markets globally reacted positively to suggestions that the US and China may be coming towards a deal to end their recent trade war. However, looking at the week just gone, it appears that the FTSE 100 [...]