UK interims reveal a mixed picture as investment programmes progress
- From: Vol 7, Issue 12 (December 2006)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: Aquarion, Capgemini, Fitch, Kelda, Northumbrian Water, Pennon, Severn Trent Water, Thames Water, United Utilities, Vertex, Viridor and Yorkshire Water
The rash of UK interim results announcements saw more of Thames’ profits leak away, while Yorkshire was stung by an instant ratings downgrade.
Most of the UK water groups reported higher interim profits for the first half of the 2006/7 financial year, as they moved into the second year of higher tariffs under the current review period.
United Utilities, Pennon, Kelda and Northumbrian Water all recorded double-digit percentage improvements in most of their measures of profitability. At UU, for example, operating profits ...
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