logo
Plus   Neg
Share
Email

United Utilities Sees Lower Underlying Profit, Revenue In H1 - Quick Facts

United Utilities Group Plc (UU.L,UUGRY.PK) reported Thursday that current trading is in line with its expectations for the first half.

For the first half, underlying operating profit is expected to be lower than last year, largely reflecting the lower revenue and an anticipated moderate increase in infrastructure renewals expenditure.

Group revenue is expected to be lower than the first half of last year, mainly due to allowed regulatory revenue changes and lower consumption from businesses as a result of COVID-19, partly offset by higher consumption from households.

Overall, the net reduction in revenue in the first half of the year is expected to be around 5 percent.

In its trading update ahead of half year results on November 25, the company said operational performance in the first half is on track against its AMP7 plan, notwithstanding the pandemic.

The company continues to target net outcome delivery incentive or ODI outperformance for the full year 2020/21.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
NASA's Osiris-Rex robotic spacecraft briefly touched down on near-Earth asteroid Bennu's surface on Tuesday to collect rock and dust samples that will be brought back to Earth in 2023. Bennu is currently more than 200 million miles, or 321 million kilometres, from Earth. Osiris-Rex launched from Cape Canaveral Air Force Station in Florida in September 2016. Amazon said Wednesday that free one-hour grocery pickup is now available to prime members at all U.S. Whole Foods Market locations. Previously, the prime members could pick up Whole Foods orders only at select stores. J.C. Penney said it is near to exiting Chapter 11 ahead of the busy December 2020 holiday season. The beleaguered retailer filed a draft asset purchase agreement towards finalization of the acquisition by Brookfield Asset Management, Inc. and Simon Property Group, Inc. They are expected to buy substantially all of J.C. Penney's retail and operating assets in a combination of cash and debt.
RELATED NEWS
Follow RTT