United Utilities post higher-than-expected annual profits

Jun 3 2008 by Tony McDonough, icNorthWest

United Utilities today says it has beaten leakage targets for the second year in a row as it posts higher than expected annual profits.

The Warrington-based group, which has 3.2 million customers, says it has outperformed more demanding water leakage targets from regulator Ofwat, with serious pollution incidents also 60% lower than two years ago.

Underlying pre-tax profits for the year to March 31 are 17% up at £475.6m, beating the £461m expected by the City.

See Wednesday’s Daily Post for full story.