Kelda disappoints too

KELDA’S FINANCIAL RESULTS for the year also reflected the effect of the Ofwat price determination which reduced profits in the company’s main operating subsidiary Yorkshire Water.

Profits were down by more than 30% despite improvements in productivity and efficiency. Overall, group profit before tax stood at £156.4 million, down from £222.1 million last year.

Kelda deputy chief executive James Newman said the government and director general had made it clear that they preferred the equity-based model. However, if equity was to remain in the ...

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