United Utilities sees higher profit as office water usage rebounds

Stock Markets1 hour ago (Sep 27, 2021 02:50AM ET)

(C) Reuters.

(Reuters) -Britain’s United Utilities (OTC:UUGRY) said on Monday it expects higher first-half profit and revenue as workplace water consumption improves after the easing of pandemic curbs, while household demand remains high due to remote working.

The company, one of the largest publicly traded water utilities in the country, said half-yearly underlying revenue is expected to rise by around 4%. It reported revenue of 894.4 million pounds for the six months ended September 2020.

British water utilities had been struggling with a sharp drop in non-household consumption and rising defaults during the early stages of the pandemic. However, trends have improved since COVID-19 restrictions were lifted in mid-July.

United Utilities said underlying profit would rise despite higher costs due to inflationary pressures.

In May, the utility firm predicted marginally lower revenue for the year ending March 2022, because of regulatory changes in inflation accounting.

United Utilities sees higher profit as office water usage rebounds

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

More from author


Related posts

Latest posts

China raises $4 billion in U.S. dollar bond deal

Stock Markets12 minutes ago (Oct 19, 2021 08:30PM ET) (C) Reuters. By Scott Murdoch HONG KONG (Reuters) - China has raised $4 billion through a...

U.S. House committee backs contempt charge against Trump aide Bannon

World21 minutes ago (Oct 19, 2021 08:22PM ET) (C) Reuters. FILE PHOTO: Former White House Chief Strategist Steve Bannon exits the Manhattan Federal Court, following...

U.S. House committee backs contempt report on Trump aide Bannon

Sign In/Free Sign Up 0 World24 minutes ago (Oct 19, 2021 08:18PM ET) (C) Reuters. FILE PHOTO: Former White House chief strategist Steve Bannon...


Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!