Severn Trent 'on track' for full year results

Thu, 4th Feb 2021

Severn Trent has said it is 'on track' to deliver its full-year results in line with expectations and has increased its guidance for outperformance on customer ODIs to £50 million. In its trading update covering October 1, 2020 to February 4, 2021, the company said its Water business is set for its 'best ever performance' on a number of measures including the Compliance Risk Index and water quality complaints. In Waste, Severn Trent started strongly with 25% fewer blockages and a 15% reduction in pollutions in the calendar year. Its biodiversity programme is on track to deliver over 2,200ha of enhanced natural environment. The company is also in constructive dialogue with Ofwat and DEFRA on potential investment opportunities for Severn Trent as part of the Government's Green Recovery initiative. It said: 'We submitted a number of proposals3 on January 31, and look forward to continuing our discussions during the review process, which we expect to conclude by September 2021.' Severn Trent is supporting the UN Race to Net Zero campaign through its Triple Carbon Pledge and will give more detail on its journey to net zero at our Capital Markets Day later this year. Story provided by StockMarketWire.com

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