Operating profits up at Anglian Water

Chief executive hails an “exciting six months” for the utility firm

Operating profits have risen by 1.6 per cent at Anglian Water, according to the firm’s latest set of financial figures.

The utility firm today (28 November) published the details of its results for the six months to 30 September, which show an operating profit of £210.2 million, which is an increase of 1.6 per cent on the same time period last year when the figure was £206.9 million.

The results also show revenue for the first half of the financial year was £634.8 million, which is up 2.2 per cent on the £620.9 million figure from 2016.

The figures also show cash generated from operations was down 3.2 per cent on the previous year at £323.3 million, which the company said was largely due to the working capital impact of transferring non-domestic customers to Anglian Water Business.

The results also show good progress is being made on planning for PR19.

The company’s chief executive, Peter Simpson, said its performance has been “strong across the board”.

“This has been an exciting six months, including several firsts for our industry, as we continue to break new ground in our operations, customer service and engagement,” said Simpson.

“We are determined to ensure the service we provide continues to meet customers’ priorities and concerns,” he added. “With the next price review approaching in 2019, we have involved customers from the very start, including them in the design of our engagement process.

“As a result, the last six months have seen a fresh and creative approach to engagement that has made a real impact and already captured the opinions of many thousands of people.”

Author: Jamie Hailstone,
Channel: Finance & investment
Tags: Anglian Water , UK , Domestic Water and Wastewater Retail

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