Pennon Group Plc (PNN.L), a water and utility company, Thursday said that it swung to profit in the first six months, helped by a 25 percent growth in revenues. The company also lowered its interim dividend for the period.
On the LSE, PNN.L is up 3.8 percent on Thursday's trading at 548.50 pence.
The company posted pre-tax profit of 65.9 million pounds in the first half of fiscal 2026, compared to pre-tax loss of 38.8 million pounds in the same period last year. On an underlying basis, profit was 65.9 million pounds, compared to loss before tax of 18.6 million pounds in the year-ago period.
According to Pennon Group, half-yearly profit came in at 57.3 million pounds or 12.1 pence per share, compared to loss of 30.3 million pounds or 8.8 pence per share in the previous-year period.
During the half-year period, group revenue climbed 24.8 percent to 658.1 million pounds from 527.2 million pounds in the prior year, helped by higher regulatory revenue allowances (net of and higher consumption.
The company's Underlying EBITDA for the first six months rose to 254.4 million pounds from 163.5 million pounds in the corresponding period last year.
Pennon Group lowered its interim dividend for the half-year period to 9.26 pence per share from 12.14 pence per share year-on-year.
Looking ahead, the company expects fiscal 2026 underlying EBIDTA to rise by around 60 percent from the prior-year.
For comments and feedback contact: editorial@rttnews.com
Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.