UK results fuel M&A speculation
- From: Vol 8, Issue 6 (June 2007)
- Category: General
- Region: Europe
- Related Companies: Aquarion, Deutsche Bank, HSBC, Kelda, Merrill Lynch, Mid Kent Water, Moody’s, North West Water, Northern Gas Networks, Northumbrian Water, Pennon/South West Water, Royal Bank of Scotland, Scottish and Southern Energy, Scottish Water, Severn Trent, Southern Water, Standard & Poor’s, United Utilities, Welsh Water (Dwr Cymru) and Yorkshire Water
Profit growth at the listed UK WASCs has re-ignited take-over rumours within the sector. There are, however, other assets to chase.
The five remaining quoted UK water companies saw predictable increases in profits for 2006/7 on the back of a second year of tariff increases under the current pricing review, fuelling investor speculation that further acquisitions in the sector could be imminent.
The largest of the listed companies, United Utilities, saw group operating profits climb 13% in 2006/7 to ...
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