UK half-year profits hit by rising bad debts
- From: Vol 10, Issue 12 (December 2009)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: Anglian Water, Barclays Capital, Northumbrian Services, Ofwat, Pennon, Severn Trent, Thames Water, United Utilities and Welsh Water
Increasing bad debts mean that most of the quoted UK water stocks struggled to improve profitability in the six months to September. The future looks brighter as far as energy bills are concerned.
Higher bad debt charges and rising energy bills kept profits at most of the large UK water and sewerage groups in the flat to low single digit range over the first six months of 2009/10. This is despite the tariff increases of around 5% that most have been able to impose in the final year of the current review ...
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