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Pennon Remains On Track To Deliver Operational Performance In Line With Management View

Pennon Group plc (PNN.L), on Tuesday, issued trading update ahead of its results for the year ended 31 March 2022, and said it remains on track to deliver resilient financial and operational performance across the Group in line with management expectations - continued South West Water RORE outperformance run rate.

The company stated that it has made good progress in delivering its £1.4 billion environmental investment programme for South West Water and Bristol Water, driving RCV growth in K7. Also, Pennon announced its WaterFit plans for 2022-25, outlining how it will play its part, working with partners, customers, visitors and local communities to protect and enhance the South West's waters for future generations.

The company also noted that the buyback programme is progressing well with about £200 million complete to date. Further phases are expected to commence over the period to 30 September 2022 to complete up to about £400 million programme, subject to the company's continued review of further growth opportunities in UK water, and in line with its established financial disciplines.

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