May 21, 2019 / 6:19 AM / a month ago

Severn Trent warns on impact of re-nationalisation

May 21 (Reuters) - British water utility Severn Trent reiterated warnings on Tuesday about the impact of any future nationalisation of the industry on strategic goals the company has set for itself under its officially-regulated business plans.

The opposition Labour party laid out plans earlier this month under which it would offer shareholders in water utilities around half their current market value under a nationalisation programme should it win the next general election.

The company made the comments as it posted a 6.8% rise in profit for the year after scoring a number of performance-related incentives from regulator Ofwat, offsetting a rise in costs linked to last summer’s supply shortages. (Reporting by Muvija M in Bengaluru)

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