19th Sep 2013 06:11
WARRINGTON (dpa-AFX) - United Utilities Group Plc (UU.L, UUGRY.PK), in its trading update, reported that its current trading is in line with the Group's expectations for the half year ending September 30, 2013. The company said it firmly remains on track to deliver its 2010-15 regulatory outperformance targets and has delivered further customer service improvements via. strong operational focus.
Revenue is expected to be higher than the prior year's first half, reflecting the regulated price increase for 2013/14. This revenue growth is anticipated to be slightly below the allowed regulated price rise, chiefly reflecting the on-going impact of a tough economic climate on volumes. Underlying operating profit for the first half of 2013/14 is likely to be moderately higher than last year, as the firm continues to tightly manage its cost base.
United Utilities has progressed well on its regulatory capital investment programme and, as planned, intends to invest some 800 million pounds in 2013/14, including infrastructure renewals expenditure.
The company is well advanced in preparation of its business plan for the 2015-20 period and is on track for plan submission to Ofwat, as required by 2nd December this year.
Copyright RTT News/dpa-AFX
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