Millions flow out of United Utilities on capital projects
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.
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