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Pennon Group PLC (PNN.L)

PNN.L on London Stock Exchange

727.00GBp
23 Aug 2019
Change (% chg)

6.80 (+0.94%)
Prev Close
720.20
Open
721.00
Day's High
734.00
Day's Low
721.00
Volume
804,580
Avg. Vol
952,645
52-wk High
800.00
52-wk Low
679.48

Latest Key Developments (Source: Significant Developments)

UK's Environment Agency Says South West Water Offered To Pay £350,000 To Westcountry Rivers To Help Devon River
Tuesday, 13 Aug 2019 11:55am EDT 

Aug 13 (Reuters) - Pennon Group PLC ::UK'S ENVIRONMENT AGENCY - SOUTH WEST WATER TO PAY CHARITY £350,000 AFTER POLLUTING STREAM.UK'S ENVIRONMENT AGENCY - SOUTH WEST WATER OFFERED TO PAY £350,000 TO WESTCOUNTRY RIVERS TRUST TO HELP DEVON RIVER RECOVER FROM SERIOUS POLLUTION.UK'S ENVIRONMENT AGENCY - MONEY FROM SOUTH WEST WATER WILL BENEFIT WATERCOURSES IN PLYMOUTH AS ALTERNATIVE TO PROSECUTION BY ENVIRONMENT AGENCY.  Full Article

Water Services Authority Says Water Bills Set To Fall According To Ofwat
Thursday, 11 Apr 2019 02:00am EDT 

April 11 (Reuters) - Water Services Regulation Authority::OFWAT - 7.9M HOUSEHOLDS IN NORTH WEST, SOUTH WEST AND MIDLANDS COULD SEE THEIR WATER BILLS FALL BY AS MUCH AS £70 BEFORE INFLATION BY 2025.OFWAT - DRAFT DECISIONS FOR 2020 TO 2025 MEANS UNITED UTILITIES, SOUTH WEST WATER, SEVERN TRENT SPENDING £1.2 BILLION TO REDUCE POLLUTION.OFWAT - DRAFT DECISIONS FOR 2020 TO 2025 MEANS UNITED UTILITIES, SOUTH WEST WATER, SEVERN TRENT WOULD NEED TO CUT LEAKAGE BY AT LEAST 15% BY 2025.OFWAT - UNITED UTILITIES, SOUTH WEST WATER, SEVERN TRENT WOULD NEED TO PROVIDE HELP FOR 300,000 CUSTOMERS STRUGGLING TO PAY BY 2025.  Full Article

Pennon Group Says South West Water Now Reviewing Draft Determination Proposed By Ofwat
Thursday, 11 Apr 2019 02:00am EDT 

April 11 (Reuters) - Pennon Group PLC ::PR19 DRAFT DETERMINATION FOR SOUTH WEST WATER.SOUTH WEST WATER IS NOW REVIEWING DRAFT DETERMINATION PROPOSED BY OFWAT AND WILL RESPOND TO REGULATOR BY DUE DATE OF 24 MAY 2019.OFWAT WILL ANNOUNCE ITS FINAL DETERMINATION FOR COMPANY ON 11 DECEMBER 2019.  Full Article

Pennon Sees 2018/19 Underlying Financial Performance In Line With View
Monday, 25 Mar 2019 03:01am EDT 

March 25 (Reuters) - Pennon Group PLC ::TRADING STATEMENT.GROUP UNDERLYING FINANCIAL PERFORMANCE IN LINE WITH EXPECTATIONS FOR 2018/19.RORE AT SOUTH WEST WATER IS ON TRACK FOR "CONSISTENT CONTINUED OUTPERFORMANCE" FOR 2018/19 WITH AN EXPECTED CUMULATIVE RATE OF 11.8%..REMAIN CONFIDENT THAT RECYCLING BUSINESS IS ON TRACK FOR FULL YEAR RESULTS IN LINE WITH OUR EXPECTATIONS.CONTINUE TO SEE A POSITIVE FUTURE FOR RECYCLING BUSINESS.WORK AT AVONMOUTH ERF HAS PROGRESSED AS EXPECTED THIS YEAR.EXISTING ASSETS IN ERF PORTFOLIO HAVE CONTINUED TO PERFORM AHEAD OF OUR BASE CASE SCENARIO, UNDERPINNING FULL YEAR RESULTS FORECAST.  Full Article

Pennon Group Further Consolidates Waste Management Business
Friday, 16 Nov 2018 07:36am EST 

Nov 16 (Reuters) - Pennon Group PLC ::PENNON GROUP PLC - ANNOUNCEMENT RE WASTE MANAGEMENT BUSINESS.PENNON GROUP - JOHN LAING INVESTMENTS, JV PARTNER WITH VIRIDOR WASTE MANAGEMENT IN RUNCORN I ENERGY RECOVERY FACILITY HAS DECIDED TO SELL ITS HOLDING.PENNON GROUP - UNIT VIRIDOR EXERCISED ITS PRE-EMPTION RIGHTS & AGREED A £54.52M CASH CONSIDERATION FOR 37.5% ECONOMIC INTEREST AND 20% VOTING RIGHTS.PENNON GROUP PLC - ACQUISITION WILL RESULT IN AN INCREASE TO PENNON'S ECONOMIC INTEREST IN INEOS RUNCORN HOLDINGS LIMITED FROM 37.5% TO 75%.  Full Article

Pennon Group says H1 pre-tax profit rose 2.3 pct
Wednesday, 29 Nov 2017 02:02am EST 

Nov 29 (Reuters) - PENNON GROUP PLC ::INTERIM DIVIDEND UP 7.9 PERCENT TO 11.97 PENCEPER SHARE.H1 UNDERLYING PRETAX PROFIT ROSE 2.3 PERCENT TO 131.1 MILLION STG.HY UNDERLYING REVENUE OF ‍723.9​ MILLION STG VERSUS. 685.5 MILLION STG A YEAR AGO.‍GROUP HAS PERFORMED WELL IN H1 2017/18, AND IS ON TRACK TO DELIVER IN LINE WITH MANAGEMENT EXPECTATIONS FOR FULL YEAR 2017/18​.‍WATER BUSINESS IS ON TRACK TO DELIVER AGAINST ALL BUSINESS PLAN COMMITMENTS, INCLUDING THOSE UNDER FINANCIAL ODIS, BY 2020.‍VIRIDOR SEES GENERATING SIGNIFICANT GROWTH IN EBITDA OVER COMING YEARS, WITH STEP UP EXPECTED FROM 2018/19 AS ADDITIONAL FACILITIES COME ON STREAM​.  Full Article

CORRECTED-UPDATE 1-South West Water owner Pennon's FY profit jumps on waste recycling push

May 30 Pennon Group reported an 8.3% jump in full-year earnings on Thursday, as strong performance by its waste recycling unit helped the British water utility and waste management company offset higher costs at its South West Water business.