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
Cement giant LafargeHolcim (HCMLY.PK, HCMLF.PK), formed by the combination of French Lafarge and Swiss peer Holcim, Wednesday said its sales declined for the third quarter as well as nine months. Apparel retailer Guess? Inc. (GES) on Tuesday reported a drop in profit for the third quarter, as revenues declined 12 percent. Earnings for the quarter trumped Wall Street estimates, while revenues were in line with expectations. Guess' third-quarter profit dropped to $12.4 million or $0.15 per share... Shares of Hewlett-Packard Co. (HPQ) slipped a near 6 percent in extended session on Tuesday after the computer and printer maker reported a fourth-quarter profit and revenues that fell short of Wall Street estimates, hurt largely by continued weak demand for PC. It is for the last time HP is releasing...
comments powered by Disqus
Follow RTT