Edition:
United States

Severn Trent Says Renationalisation Of Water Industry Remains Possibility In Event Of Change Of Govt


Tuesday, 21 May 2019 02:01am EDT 

May 21 (Reuters) - Severn Trent PLC ::FY REVENUE FROM CONTINUING OPERATIONS ROSE 4.2 PERCENT TO 1.767 BILLION STG.CONTINUED MOMENTUM AND FAST-TRACK STATUS BUILDING A STRONG PLATFORM FOR AMP7.FY GROUP TURNOVER OF £1,767 MILLION, UP £71 MILLION (4.2%).FY GROUP UNDERLYING PBIT OF £574 MILLION, UP £34 MILLION (6.3%) HAVING ABSORBED ALL HOT WEATHER COSTS.FY GROUP REPORTED PBIT OF £563 MILLION , UP £36 MILLION (6.8%).PROPOSED FINAL DIVIDEND OF 56.02 PENCE, IN LINE WITH POLICY.ON TRACK TO EXCEED 50% RENEWABLE ENERGY SELF-GENERATION TARGET IN FY19/20.STRONG SECOND HALF OF OPERATIONAL IMPROVEMENTS IN WATER GIVES CONFIDENCE IN FY19/20 AND BEYOND.CUMULATIVE AMP6 ODI OUTPERFORMANCE OF £138 MILLION, INCLUDING NET £4.5 MILLION PENALTY FOR FY18/19.SEES 2019/20 GROUP CAPEX £700 MILLION TO £800 MILLION.RENATIONALISATION OF WATER INDUSTRY REMAINS A POSSIBILITY IN EVENT OF A CHANGE OF GOVERNMENT.SEVERN TRENT - ENGAGING WITH GOVERNMENT, MPS, WELSH GOVERNMENT, REGULATORS AND OTHER STAKEHOLDERS ABOUT FUTURE SHAPE AND DIRECTION OF WATER SECTOR.SEVERN TRENT- ASSOCIATED CHANGES IN GOVERNMENT POLICY MAY FUNDAMENTALLY IMPACT OUR ABILITY TO DELIVER STRATEGIC OBJECTIVES, IMPACTING SHAREHOLDER VALUE.