Pre-tax profits slipped to £275 million from a figure of £288 million in 2010. This allowed the water company to announce a special dividend of 63p and increase capital investment by £150 million.
Severn Trent Water saw a 2 per cent fall in water usage during the 12-month period but still managed to increase revenues by 4.9 per cent to £1.46 billion after pushing through a 5.2 per cent regulatory price increase in line with inflation.
Chief executive Tony Wray said: “During the period we have delivered on our commitments to our stakeholders. We have beaten our leakage target, reduced supply interruptions, continue to forecast no water usage restrictions for our region this year and we maintained the lowest average charges for our customers. “