Severn Trent on track to perform in line with FY guidance

(Sharecast News) - Water company Severn Trent said on Friday that its financial performance for the year remained on track and that it expects to perform in line with guidance. Severn Trent expects to deliver a net ODI reward of over £100.0m pre-customer-sharing in FY17/18 prices, bringing total net ODI reward in AMP7 to around £420.0m in nominal prices, reflecting "consistent sector-leading performance".

The FTSE 250-listed firm stated that its totex allowance of £14.9bn will generate real RCV growth of 45% and allow it to "deliver significant progress" on the environment and customer service.

Severn Trent added that based on the FY24/25 dividend of 121.71p, the dividend for FY25/26 was anticipated to be 126.02p.

As of 1030 GMT, Severn Trent shares were down 0.93% at 2,461.0p.









Reporting by Iain Gilbert at Sharecast.com