Utilities group's profits up to more than £600m

United Utilities Group Plc '‹today '‹posted '‹solid operating profit'‹s.

Thursday, 25th May 2017, 10:33 am
Updated Sunday, 4th June 2017, 9:29 pm

​​The group, which supplies water across ​Lancashire, ​Cheshire,​ ​and Cumbria, said underlying operating profit rose 3.1 percent to ​£​622.9​m​ for the year.

​Reported operating profit was ​up seven per cent to £605m.

​But revenue for the year fell 1.5 percent to ​£​1.7 b​n.

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​​United raised its total dividend to 3​​8.87 pence per share for the year which ended on March 31 from 38.45 pence a year earlier.

​Steve Mogford, Chief Executive Officer, said: ​​“We have delivered a strong performance for our customers, shareholders and the environment in this second year of the 2015-20 regulatory period.

​“​This performance combined with our confidence in delivering a net outperformance over the regulatory period has enabled us to commit to a further £100m of additional investment in the region.

​“​This will support our resilience projects bringing additional customer benefits over the next three years.

“We have achieved our best ever customer satisfaction scores under Ofwat’s Service Incentive Mechanism (SIM) ending the year in an upper quartile position amongst our peers. We introduced a number of innovations enhancing our customer service offering. One of the most successful, Priority Services, provides dedicated support to customers experiencing personal or financial difficulties. ​“