22nd Mar 2016 07:47
LONDON (Alliance News) - United Utilities Group PLC on Tuesday said trading for its financial year to the end of March is in line with its expectations.
The FTSE 100-listed water and sewage utility covering North West England said revenue for the full year will be marginally higher, with increased assumed volumes and more sales in its non-regulated business offsetting lower allowed regulated revenue.
Underlying operating profit for the year is in line with the group's expectations, albeit lower year-on-year, due to new regulated price controls. Reported operating profit will fall due to additional costs and impairment charges related to the flooding which hit the UK in December 2015, though United Utilities said much of this will be offset by insurance payments.
The group will publish its final results for the financial year ended March on May 26.
By Sam Unsted; [email protected]; @SamUAtAlliance
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