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Severn Trent FY Group Profit, Turnover Rise

Severn Trent Plc (SVT.L), a UK-based water and waste water company, Tuesday reported higher profits and turnover for the fiscal year ended March 31, 2019.

Profit for the year from continuing operations grew 32 percent to 315.3 million pounds, as there were no discontinued operations. Earnings per share from continuing operations rose to 133.2 pence from 107.1 pence last year.

While reported PBIT was up 6.8 percent to 563 million pounds, underlying PBIT increased 6.3 percent to 574 million pounds.

Group turnover for the year grew 4.2 percent to 1.767 billion pounds, as Regulated Water and Waste Water revenue increased by 4.0 percent, mainly due to the RPI-linked tariff increases and from growth in Business Services' external turnover.

In addition, the Group said it proposed final dividend of 56.02 pence, in line with policy.

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