Severn Trent to recruit 1,000 staff as profits soar
Severn Trent has outlined plans to create 1,000 jobs across the Midlands thanks to its “strong results”.
The water company says it is on track to make an increased capital investment of between £850m and £1bn for 2023/24 as well as helping 315,000 customers in need to receive 90% off their bill by 2025.
The Coventry-headquartered firm said in its annual results that work is currently underway on the world’s first net-zero waste water treatment hub, to be delivered in 2024. It aims to create the blueprint for reducing process emissions, supported by Ofwat’s Innovation Fund.
Severn Trent reported a 0.5% profit before interest and tax last year to just under £509m and an 11% increase in turnover to £2.16bn.
As water companies have come under fire from environmentalists, regulators and the government for the dumping of raw sewage, the firm admits that it should have “given sewage activations much more attention and acted faster” and now hopes to be a “driving force for positive change”.
Members of environmental activist group Extinction Rebellion protested outside of Severn Trent’s Coventry headquarters in March. The group said whilst CEO Liv Garfield receives £3.9m in pay a year, making her the UK’s highest paid water boss, that Severn Trent dumped “tens of thousands of hours of raw sewage into the River Severn” and called it the “most polluted river in the UK”.
At the time, a spokesperson told TheBusinessDesk.com that: “Since privatisation Severn Trent has invested £25 billion in infrastructure and is investing £100 million each year to improve rivers. We’re proud to be sector leaders including hitting 100% of environmental targets and being recognised with the highest 4* status from the Environment Agency.
“Other sectors are responsible for 85% of reasons for watercourses not achieving good ecological status across in our region, with 16% within the control of Severn Trent and we’ve made a commitment that this will be down to zero by 2030.”
Progressing well with our ten-year Societal Strategy to help support 100,000 people out of poverty by 2032
Liv Garfield, Chief Executive, Severn Trent Plc, said: “Creating job opportunities, continuing significant regional investment, and financially supporting more customers than ever before is made possible by the strong results we have delivered this year.
“This support is being delivered whilst continuing with the multibillion-pound investment in the region to improve water and waste services, providing an exceptional service and investing in our people who go above and beyond every day to make a positive impact in our region.
“We are expecting the biggest investment period the sector has ever seen, with a focus on water resources, improving environmental standards and on Net Zero, and we feel more than ready for this exciting opportunity ahead of us”.