Millions flow out of United Utilities on capital projects

United Utilities

WATER company United Utilities is trumpeting £383m of capital investment in its half year as it targets a spend of about £800m on projects over the full 12 months.

However, profit before tax for the Warrington-based firm in the six months to September 30 was down £16m to £189m, as a £4m increase in operating profit was offset by a £19m in net finance expense.

The finance expense is due to the impact of higher RPI inflation and UU’s index-linked debt.

Chief executive Steve Mogford said: "... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...