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Group beats leakage and profit targets
UNITED Utilities says it beat leakage targets for the second consecutive year as it posted higher than expected profits.
The Warrington-based group said it had outperformed water leakage targets from regulator Ofwat, with serious pollution incidents also 60 per cent lower than two years ago.
Underlying pre-tax profits for the year to March 31 were 17 per cent up at 475.6m. The City had expected 461m.
Plans to return 1.5bn to shareholders following the sale of its North West electricity distribution network assets last year were on track for August.
United manages over 37,000km of pipelines delivering gas to 2.5m customers in West, East and North Yorkshire, Cumbria and the North East on behalf of its Leeds-based operating partner, Northern Gas Networks.
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Sunday 12 February 2012
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