financial update

Latest in financial update

Severn Trent has reported a reduction in sewer blockages and flooding by one-third for 2020/21 and outperformance in 80 per cent of its outcome delivery incentive areas that will earn rewards of £79million. The company is issuing shares to raise £250 million for its green recovery plans.
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Annual profits fell at SSE, following a year the company said presented “a number of complex challenges to manage”, including plans to merge its household energy supply business with fellow big six supplier Npower, and the looming price cap reforms.
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Centrica, which owns Britain’s biggest household energy supplier British Gas, is expected to report profits of about £1.3 billion, down from £1.5 billion last year.
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