Share Prices & Company Research

Market News

21 May 2019 | 07:23

Severn Trent profit rises 6.8% on higher water business sales

Water utility Severn Trent posted a 6.8% rise in annual profit, driven by higher sales in its regulated and waste water business following tariff increases and growth in its business services unit.

Pre-tax profit for the year through March rose to £563.3m, as revenue rose 4.2% to £1.78bn.

Severn Trent declared a full-year dividend of 93.37p per share, up 7.9% on-year.

Strong perational improvements in the water business in the second-half offered confidence in the current financial year and beyond, the company said.

'This has been a year where our teams have really stepped up, whether in response to customer needs in the face of one of the hottest and driest summers we've seen or by being named by Ofwat as one of the top companies in the sector when we received fast-track status for our future plans,' chief executive Liv Garfield said.

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.