UK water industry seeks capital
- From: Vol 4, Issue 8 (August 2003)
- Category: Market insight
- Region: Europe
- Country: United Kingdom
- Related Companies: AWG, Axa, Calgon Carbon, Consolidated Water, Fortis, Kelda, Middlesex Water, Northumbrian Water, Pennon/South West Water, Severn Trent Water, Suez, Total, United Utilities and Vinci
UU’s proposal to raise £1 billion through a rights issue made UK water investors nervous. With the exception of Kelda, all the quoted companies lost value in July.
Only one stock, Middlesex Water, recorded a double-digit percentage change last month. Calgon Carbon and Middlesex were the best performers with gains of 9.3% and 10.3% respectively. Both companies released solid 2Q revenue figures.
Calgon’s 2Q sales were up 15.7% from a year ago to $78.1 million (cumulative revenues for the first half were $142 ...
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