Operating profit also dropped during the period, to £311.8 million from £373.6 million. Thames Water said this was caused by higher operating costs and higher depreciation of £14.1 million, due to the high level of capital investment over the first three years of Asset Management Plan 5 (AMP5).
In turn, operating expenditure increased to £369.3 million from £308.7 million during the period. Thames Water blamed this on bad debts due to the recession, as well as the effect of rising energy prices on its operations.
However, turnover increased to £902.7 million for the six months to 30 September, up from £850.8 million.
In June the board announced total dividend payments of £201.4 million, or 19.6 pence per ordinary share, up from £179.5 million during the same period in 2011.