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
Business software giant Oracle Corp. (ORCL), Monday said it swung to a third-quarter loss after taking a $6.9 billion charge related to the new U.S. tax law. Revenues for the quarter grew 6 percent reflecting strong growth in cloud revenues. Adjusted earnings for the quarter trumped Wall Street estimates,... Canada-based cannabis company Cronos Group Inc. (CRON) and MM Enterprises USA LLC said Monday that they have formed a cross-border joint venture to cater to Canadian consumers. The move comes as Canada plans to legalize adult use of cannabis by the end of this year. MM Enterprises USA, LLC is a U.S. cannabis company with facilities in California, Nevada, and New York. Qualcomm Inc.'s former Chairman Paul Jacobs plans to acquire the chipmaker founded by his father and has approached several global investors in an effort to fund the buyout, the Financial Times reported. According to the report, Jacobs informed members of the Qualcomm board about his intention to take the company private. Qualcomm has a market capitalization of $90 billion.
comments powered by Disqus
Follow RTT