UK interims overshadowed by M&A activity
- From: Vol 8, Issue 12 (December 2007)
- Category: General
- Region: Europe
- Country:
- Related Companies: Kelda, Northumbrian Water, Pennon, Severn Trent, South West Water, Southern Water, United Utilities and Yorkshire Water
While the impact of the floods dented Severn Trent’s profits, the results season at the quoted UK water plcs was for the most part dominated by takeover activity.
The interim results from the remaining quoted UK water companies were largely eclipsed by the simultaneous announcement of an agreed £5.5 billion bid for Kelda, and the sale of United Utilities’ power distribution business for almost £1.8 billion (see stories opposite).
Nevertheless, all five companies reported decent profits on the back of further increases in their regulated tariffs ...
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