Yorkshire Water has received another bonus for hitting \u2018leakage targets\u2019 as profit soar 370% at the utility firm.<\/p>\n
The figures have emerged as the company imposed a hosepipe ban across the Yorkshire region last Friday, following the driest and warmest spring for 132 years.<\/p>\n
In its annual report, Yorkshire Water said it received a \u00a342,000 \u2018reward\u2019 for exceeding a leakage reduction target, set by the regulator Ofwat, of 15% this year.<\/p>\n
The company has exceeded its Ofwat targets for consecutive five years, earning itself more than \u00a3800,000 in bonus payments.<\/p>\n
In October, the Environment Agency (EA) reported that 21% of Yorkshire Water’s supplies were lost due to leakage, higher than the national average of 19%.<\/p>\n
A Yorkshire Water spokesperson said: \u201cWe outperformed our leakage target set by Ofwat and delivered a 15% reduction in leakage over the last five years, which meant we were awarded additional funds by Ofwat through the regulatory framework.<\/p>\n
“These funds will be used to invest further in our operations. We are continuing to invest in leakage reduction, with \u00a338m planned to be spent to further reduce leaks in the next five years.<\/p>\n
\u201cDespite the reward for exceeding the leakage target set by Ofwat, the overall net position across all performance commitments in 2024\/25 was penalty, which will be returned to customers as part of 2026\/27 bills.\u201d<\/p>\n
In the year to 31 March 2025, the company’s profits after tax soared 368% to \u00a3315.4m. This corresponds to adjusted profit after taxation of \u00a383.2m up from \u00a313.7m. EBITDA rose from \u00a3612m to \u00a3686m<\/p>\n
Revenue nudged up 6% to \u00a31,299bn.<\/p>\n
The company has received another bonus for hitting \u2018leakage targets\u2019 as profit soar 370%<\/p>\n","protected":false},"author":271992,"featured_media":2089162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53262],"coauthors":[137100],"class_list":["post-2141426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-top-story","tag-yorkshire"],"yoast_head":"\n