Bristol Water reports 30 per cent profit boost but warns of financial market uncertainties

Operating profit for the year to 31 March was up around 30 per cent to £24.5 million, Bristol Water reported today. After tax the firm reported profit of £7.2 million, up from £6.8m last year.

Chairman Moger Woolley said the firm’s water resources were in line with normal operation, following recent rain, “lessening the possibility of any restrictions later in the year”. He added that Bristol had recorded its lowest leakage level in the company’s history, 15 per cent below its target level.

He announced more good news when he claimed that said the firm’s own research suggested customer satisfaction levels were 97 per cent.

However, Woolley warned that the company was not “immune to the continuing financial market uncertainties in the medium term, which have the potential to impact [Bristol Water’s] ability to obtain appropriate financing to deliver the current and future capital programmes”.

See the statement here.