We are proud to provide a sustainable, affordable, clean and safe water supply and to manage and treat the waste water returned to us in a way that protects the environment.
Results for the year ended 31 March 2010
| Revenue: | £704.7m | (2009: £694.1m) |
|---|---|---|
| Profit before interest: | £275.8m | (2009: £273.6m) |
| Profit before tax: | £170.2m | (2009: £152.7m) |
| Profit/(loss) for the year: | £122.9m | (2009: (£11.9m)) |
• Revenue increase mainly reflects the uplift in tariffs to support ongoing high capital investment
• Continued high levels of customer satisfaction
• Decreased interest charges reflecting lower RPI on index linked bonds (£29.0 million), offset by increased pension financing costs (£10.3 million) and higher net interest payable (£3.1 million)
• Entire electricity requirement procured through to March 2015
• Funds in place to meet all the requirements of the business to the end of 2011 (cash and short term deposits at 31 March 2010 £189.1 million)
• Capital investment in the period of £207.6 million (2009: £228.9 million) on regulatory outputs, including an extended sewer flooding programme
• Started work to increase capacity at Abberton Reservoir in Essex
• Proposed final dividend of 8.85 pence (2009: 8.50 pence) per share to be paid on 10 September 2010, giving a full year ordinary dividend of 13.24 pence (2009: 12.79 pence) per share, an increase of 3.5%
• The conclusion and acceptance of the price review to March 2015; current progressive dividend policy with annual real growth of 3% continues over next regulatory period