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
American Airlines Group said pilots at its subsidiaries American Airlines and US Airways, represented by Allied Pilots Association, have approved a new five-year contract which provides immediate pay raises of 23 percent and subsequent annual raises of three percent for the next five years. LEGO Group, TT Games and Warner Bros. Interactive Entertainment have announced their 2015 slate of video games, including LEGO Jurassic World, LEGO Marvel's Avengers, and as well as new hand-held and mobile titles. Social-networking giant Facebook, Inc. is said to be testing their new 'Place Tips' feature for iOS users that will rival a similar service being provided by Yelp or Foursquare. The feature will provide the user relevant content about their location as long as they are there through pop ups on their news feed page of Facebook.
comments powered by Disqus
Follow RTT