NOT SO SLOW
- From: Vol 7, Issue 10 (October 2006)
- Category: Need to know
- Region: Europe
- Related Companies: Southern Water
UK water regulator Ofwat complained last month that gross capital investment by the industry amounted to only £3.4 billion in the period 2005-2006, against expectations of £4.3 billion.
Over the same time period, UK water companies’ operating profits increased by 17%, though after-tax profits were in fact lower than in the period 2004-2005. Southern Water was not prepared to take this lying down. It wrote back to say that it had outperformed its wastewater investment target by some 26%.
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