UNITED UTILITIES GROUP PLC - United Utilities Trading Update
20 Mars 2014 - 8:00AM
PR Newswire (US)
United Utilities Group PLC
20 March 2014
UNITED UTILITIES TRADING UPDATE
Current trading is in line with the group's expectations for the year ending 31
March 2014. Customer service continues to improve, as measured by Ofwat's
service incentive mechanism, underpinned by good operational and environmental
performance, and the company remains ahead of schedule in delivering its
2010-15 regulatory outperformance targets.
Revenue is expected to be higher than last year, reflecting the regulated price
change for 2013/14. Underlying operating profit for 2013/14 is anticipated to
be moderately higher than 2012/13, as the company continues to manage its cost
base tightly. The underlying net finance expense for 2013/14 is expected to be
similar to last year.
United Utilities has made good progress on its regulatory capital investment
programme and expects to invest over £800 million in its asset base in 2013/14.
This substantial investment helps to maintain and improve services for
customers, delivers further environmental benefits and provides a significant
contribution to the regional economy.
Group net debt at 31 March 2014 is expected to be similar to the position at 30
September 2013. This reflects capital investment, payment of the 2013/14
interim dividend and payments in relation to interest and tax, offset by
operational cash flows, fair value gains on the group's debt and derivative
instruments and the receipt of a previously announced one-off tax rebate.
Gearing at the year end is expected to be lower than the position at 30
September 2013, reflecting growth in the regulatory capital value. This gearing
level remains well within Ofwat's assumed range (55% to 65% net debt to
regulatory capital value), supporting a solid A3 credit rating for United
Utilities Water.
United Utilities will announce its full year results on 22 May 2014.
United Utilities contacts:
Gaynor Kenyon, Corporate Affairs Director +44 (0) 7753 622282
Darren Jameson, Head of Investor Relations +44 (0) 7733 127707
Peter Hewer / Michelle Clarke, Tulchan +44 (0) 20 7353 4200
Communications
This announcement is also available at:
http://corporate.unitedutilities.com/investors.aspx
Copyright h 19 PR Newswire
United Utilities (PK) (USOTC:UUGRY)
Graphique Historique de l'Action
De Déc 2024 à Jan 2025
United Utilities (PK) (USOTC:UUGRY)
Graphique Historique de l'Action
De Jan 2024 à Jan 2025
Real-Time news about United Utilities Group PLC (PK) (OTCMarkets): 0 recent articles
Plus d'articles sur