15th Jul 2015 06:14
LONDON (Alliance News) - Severn Trent PLC Wednesday said there has been no material change to the business since its last report in May, except it expects its interest charge for the full year to be lower year-on-year.
The FTSE 100-listed UK water and waste-water company reiterated its full-year cost guidance and dividend expectations, and said it continues making progress on making efficiency savings across the water division.
Severn Trent's wholesale total expenditure for the full year will be between GBP1.03 billion to GBP1.06 billion, whilst operating costs are still expected to be lower year-on-year due to the impact of the organisational changes and the supply chain efficiencies made.
Net capital expenditure will be between GBP410 to GBP430 million, with an additional GBP125 to GBP135 million of net infrastructure renewals expenditure, it said in a statement.
The tax rate for the group will also be between 17% and 19%, and Severn Trent said the interest charge for the year will be lower than expected due to lower expectations for retail price index and LIBOR rates.
The water company also reiterated its dividend for the full financial year will be 80.66 pence per share.
Severn Trent will announce its interim results on November 26.
By Joshua Warner; [email protected]; @JoshAlliance
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