UU set to splash out as profits jump

WATER company United Utilities has hailed a "good" set of results as it reported a 15% hike in profits.

The Warrington-based group, the region's only member of the country's 100 biggest listed companies, said it was looking forward to the start of the next five year regulatory period after a period of "tough" negotiations with watchdog OFWAT.

Chief executive Steve Mogford said the next five years would see £3.5bn invested in the region, while customer bills will rise at a lower rate than inflation.

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