logo
Share SHARE
FONT-SIZE Plus   Neg

Severn Trent Confirms Trading Across The Group In Line With View - Quick Facts

Severn Trent Plc (SVT.L) issued interim management statement for the period from October 1, 2011 to February 16, 2012.

The company confirmed that trading across the group has been in line with its expectations and added that no new material trading events or transactions occurred during the period.

Also, consumption levels across Severn Trent's measured income base for FY 2011/12 are expected to lower year on year, in line with the trend seen in the first half. Besides, the level of bad debt for the full year is expected to remain broadly stable compared with the first six months, although the company continues to monitor future developments closely, especially unemployment levels.

The company noted that operating expenditure continues to be in line with the Board's expectations for the year, and below the level allowed in the Final Determination. Operating costs are expected to rise year on year, due to the impact of inflation, prudent investment in our networks, and quasi taxes, partially offset by efficiency savings.

Further, the expected effective current tax rate for the group for FY 2011/12 remains at 26% to 27%.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
If calories are not reduced, exercise alone can have no effect on obesity, says British Sports Medicine, a peer-reviewed journal of sport and exercise medicine. The journal says the blame for expanding waist lines is directly on the type and amount of calories consumed and the poor diet generates more disease than physical inactivity, alcohol and smoking combined. Deutsche Bank (DB) on Sunday reported an about 50 percent decline in first-quarter profit, despite clocking double-digit revenue growth, as the German lender recorded hefty legal charges over allegations of rate-rigging. Casino operator Wynn Resorts said its shareholders ousted Elaine Wynn from the board, reflecting fears that her presence may lead to disharmony with the management.
comments powered by Disqus
Follow RTT