logo
Share SHARE
FONT-SIZE Plus   Neg

United Utilities Expects Up To 4% Rise In FY12 Revenues

British water utility United Utilities Group Plc (UUGRY.PK,UU.L), in a pre-close trading statement, said Thursday that it remains on track to deliver a "good" underlying financial performance for the year ending March 31, 2012 and expects about 3 to 4 percent increase in revenues.

According to the company, the increase is slightly below allowed regulated price rise, mainly due to customers switching to meters and lower commercial volumes in the second half of the year.

Further, as indicated previously, underlying operating profit is anticipated to be lower in the second half of 2011-12, compared with the first half.

Total regulatory capital expenditure for the year is expected to be up to 700 million pounds, higher than 608 million invested in the prior year. Further, the company expects net debt at the year end to be slightly higher than the position at September 30, 2011, mainly due to the expenditure on the
regulatory capital investment programme, payment of the 2011-12 interim dividend and payments in relation to interest.

United Utilities said it is continuing to implement a wide range of business improvement initiatives, which are delivering benefits for customers.

The company is scheduled to announce its full year results on May 24.

UU.L is currently trading at 621 pence, up 1.8 percent, on a volume of 847 thousand shares on the LSE.

UUGRY.PK ended on Wednesday at $19.34.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Germany, a clean-power trendsetter country, is planning to introduce hydrogen powered trains. The environment friendly "Coradia iLint" long distance passenger hydrails are expected to be operational by the end of 2017. Rogers Communications Inc. and Shaw Communications Inc. are shutting down Shomi, the subscription video-on-demand service run by the two Canadian companies. Shomi said it will shut down operations on November 30, 2016, just two years since its launch. Shomi was viewed as a Canadian competitor to Netflix. Canadian women's fashion retailer Aritzia LP has raised C$400 million in its initial public offering on the Toronto Stock Exchange. Aritzia, Boston-based private equity firm Berkshire Partners LLC, and founder as well as CEO Brian Hill sold 25 million subordinate voting shares for C$16 per share, at the high end of its marketed range of C$14 to C$16 per share.
comments powered by Disqus
Follow RTT