UK financial results divide winners and losers
- From: Vol 10, Issue 6 (June 2009)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: Anglian Water, Deutsche Bank, Moody’s, Northumbrian Water, Ofwat, Pennon, Severn Trent, South West Water and United Utilities
This year's results for quoted UK water companies were surprisingly positive. Suggestions of capex under-spend could mean trouble ahead for some, however.
The preliminary results of the four remaining listed UK water groups implied that the recession has had a surprisingly variable impact on their financial performance in 2008/9 given the common challenges of bad debt and rising costs; two showed a profit and two suffered losses.
Severn Trent appeared to have suffered the worst, reporting that declining commercial consumption - largely ...
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