Severn Trent PLC (SVT.L), a provider of water and waste water services, Wednesday reported profit before tax of 192.3 million pounds for the first half, higher than 70.7 million pounds in the comparable period last year, mainly helped by growth in revenue as well as gains on financial instruments.
The company had gains of 18.5 million pounds on financial instruments, compared with loss of 4.1 million pounds a year ago.
Profit before interest and tax rose to 297.8 million pounds from 255.1 million pounds in the prior year.
Net profit increased to 141.4 million pounds or 47.1p per share from 51.6 million pounds or 20.4p per share last year.
Excluding one-time items, adjusted earnings grew to 173.6 million pounds or 58p per share from 74.8 million pounds or 29.7p per share a year ago.
Turnover for the period increased to 1.218 billion pounds from 1.165 billion pounds in the previous year.
The Board has declared an interim dividend of 48.68 pence, up 4.2 percent, to be paid on January 10, to shareholders on the register on November 29.
For the full year, the company sees turnover to increase from 2.15 billion reported last year.
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