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
The bench to bedside journey of drugs is fraught with challenges. It is estimated that only 5 in 5,000 compounds that enter preclinical testing make it to human testing, and out of those 5, only 1 may pass through all the regulatory hurdles needed to reach pharmacy shelves. Major League Baseball is talking expansion for the first time in a few decades. Owners stand to make a pretty penny from expansion fees and subsequent television rights. The possibility of a more balanced schedule is also enticing. Strong expansion candidates in the U.S. and Canada are ready... The New York Times is teaming up with Google again to give away Google Cardboard, the virtual reality headsets, but this time only to its "most loyal" digital subscribers. The company said that the digital-only subscribers selected for this distribution were chosen based on the duration of their subscriptions.
comments powered by Disqus
Follow RTT