31st Mar 2020 09:52
(Alliance News) - Water works Severn Trent PLC on Tuesday said there has been no material change to current year business performance since its trading update in January.
Shares in Severn Trent were down 0.3% at 2,325.00 pence each in London,
The utility, which ends its financial year on Tuesday, said it has a robust financial liquidity position extending out to early 2022 to manage through current uncertainty and remains on track to deliver at least GBP25 million of net customer outcome delivery incentive outperformance payments for financial 2020, as previously guided.
"There has been no material change to current year business performance since the trading update announced on January 28, and we continue to expect the group will deliver full-year trading performance in-line with previous guidance," Severn Trent said.
The FTSE 100-listed company has enacted incident management and business continuity plans throughout its business in response to the virus outbreak, it said. UK government restrictions on movement are likely to have a material impact on many of the business customers of its joint venture company, WaterPlus, Severn Trent warned however.
By Tapan Panchal; [email protected]
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