Pennon Group H1 Underlying Profit Before Tax Rises; Revenue Up 21.8%

Pennon Group PLC (PNN.L) said its first half results were in line with management expectations. The Group recorded growth of 21.8% in underlying revenue, with Bristol Water contributing 41.6 million pounds.

First half underlying profit before tax was 90.4 million pounds, up 4.3% from prior year. Basic adjusted earnings per share from continuing operations before exceptional items and deferred tax was 30.6 pence compared to 26.8 pence.

Profit before tax increased to 79.9 million pounds from 61.9 million pounds. Loss per share was 6.3 pence compared to profit of 12.0 pence.

Revenue was 389.3 million pounds compared to 319.7 million pounds, previous year. Organically, underlying revenues were up 8.8%.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Federal Trade Commission or FTC, has sued Walmart for allowing its money transfer services to be used by fraudsters, who fleeced consumers out of hundreds of millions of dollars. The retail giant is alleged to have looked the other way to pocket millions in fees while scammers took advantage of its failure to properly secure the money transfer services offered at Walmart stores. Home improvement retailer Bed Bath & Beyond, Inc. (BBBY) reported on Wednesday a net loss for first quarter that sharply widened from last year, hurt by hefty transient costs related to inventory markdown reserves and port-related supply chain fees. Both adjusted loss per share and net sales missed analysts' expectations. Tesla Inc. laid off about 200 employees in its Autopilot unit as the luxury electric car maker closed down its office in San Mateo, California as part of cost cutting efforts, reports said. The San Mateo office, where employees worked on improving the driver assistance systems, marketed as Autopilot, had about 350 employees before the cut.
Follow RTT