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
In a sign that other retailers may be re-thinking their Thanksgiving hours, Staples will be closed for the day. Like Wal-Mart and others, Staples was open on Thanksgiving Day for the past two years. European Court of Justice in Luxembourg has canceled the international agreement between European Union and United States to handover digital information, such as web search histories and social media updates. The ruling will be a blow to tech giants Google, Microsoft, Facebook, Amazon, etc. Volkswagen Australia Wednesday confirmed that more than 91 thousand vehicles sold in Australia were fitted with emission cheating software. Volkswagen brand alone comes to 77,000 cars and 14,000 cars are Audis.
comments powered by Disqus
Follow RTT