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Severn Trent Sees Full-year Trading Performance In-line With Expectation

Severn Trent Plc. (SVT.L), in its trading update for the period to 6 February 2019, said that it continues to expect that the Group will deliver full-year trading performance in-line with its expectations and prior guidance.

The company noted that its capital programme is progressing well and it is on track to deliver biggest capital spend in a decade.

Severn Trent's annual results announcement and presentation originally scheduled for 22 May 2019 will now take place a day earlier on 21 May 2019.

In December, the company welcomed Ofwat's decision to increase the cap on waste water customer ODIs from 2% to 2.6% of RoRE, from 1 January 2019. This continues to align performance incentives to the things our customers care most about. As previously stated, these prospective changes will provide the opportunity to receive further outperformance payments in FY2019/20 for some of our longer-term waste water customer ODIs that would have been limited by the previous cap. The company's guidance of a net neutral position for FY2018/19 remains unchanged.

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