By Jaime Llinares Taboada
United Utilities Group PLC said Monday that it expects to report a 4% increase in revenue for the first half ending Sept. 30., as water demand recovers.
The company, which provides water and wastewater services in the Northwest of England, said household consumption remains high as many customers continue to work from home and business demand has started to return to pre-coronavirus levels.
In addition, the group forecast higher underlying operating profit for the first half, reflecting higher revenue and efficiencies, which more than offset higher operating costs.
However, the company also anticipates net finance expenditure to be around 25 million pounds ($34.2 million) higher in the period, and net debt to increase as a result of accelerated investments.
Overall, United Utilities said that its first-half performance was in line with internal expectations, and that regulatory performance guidance for the AMP7 cycle (2020-2025) remains unchanged.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
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September 27, 2021 at 01:15PM
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United Utilities Sees 1H Revenue Up 4% as Water Consumption Recovers - MarketWatch
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