United Utilities Group Plc (UUGRY.PK,UU.L) provided an update for the six months ended September 30, 2012.
The company noted that current trading is in line with the group's expectations of delivering a good underlying financial performance for 2012/13. United Utilities added that it continues to make further progress improving operational performance and customer service and remains confident of delivering its 2010-15 regulatory outperformance targets.
Revenue is expected to be higher than last year, reflecting the regulated price increase for 2012/13. The company stated that this increase is slightly below the allowed regulated price rise, mainly reflecting the ongoing impact of customers switching to meters and continued lower commercial volumes.
Besides, the increase in revenue for the full year is anticipated to be largely balanced by higher depreciation, alongside higher infrastructure renewals expenditure and other operating costs both of which are impacted by the transfer of private sewers.
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by RTT Staff Writer
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