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.

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