UU on track for ‘good’ results
UNITED Utilities, the North West water company, which has recently been subject to takeover speculation , says it remains confident of delivering “good” annual results for the year to the end of March.
In an update on performance since October 1 the Warrington-based group
said current trading is in line with expectations and it remains committed to continuing to improve customer service and operational performance.
The group said revenue had continued to increase at a rate “slightly below the allowed regulated price rises for 2012/13” reflecting the on-going impact of a tough economic climate on commercial volumes.
Depreciation, power and other costs have also increased as expected, largely offsetting the increase in revenue.
The company continues to make good progress on its regulatory capital
investment programme and remains on track to invest around £750 million in its asset base in this financial year.
It said water resources in the North West region are “robust”, with its reservoirs currently around 90% full.
Looking ahead, it said: “United Utilities is confident of delivering a good underlying financial performance for the year ending 31 March 2013 and continues to be on track to meet its 2010-15 regulatory out-performance targets.
“The company remains strongly focused on building on its recent operational and customer service progress and sees plenty of scope to deliver further improvements.”
