According to its half year results, Thames Water’s turnover was also up by 8 per cent in the same period to £976.5 million, due to annual bill increases and “higher consumption during the hot periods of the summer”.
The water company, which earlier this month saw its move to increase bills by 8 per cent blocked by Ofwat, also spent £561.8 million on improvements to pipes, sewers and other facilities.
Thames Water said a reduction in UK corporation tax rates, from 23 per cent to 20 per cent, had reduced deferred tax liabilities and increased post-tax profits.
Meanwhile the company distributed £50 million to external shareholders, which was down from £92 million in the previous period.
Customer complaints for the six-month period ended September 2013 fell by 51 per cent when compared to the same period last year.
This was due to significant reductions have in metering complaints, which fell by 71 per cent and water services which have fallen by 56 per cent.
Martin Baggs, the company’s chief executive, said: “Over the last six months significant improvements in our water and waste water operations have led to improved customer satisfaction. While work progresses on major projects like the Lee Tunnel, our progressive metering programme and the proposed Thames Tideway Tunnel, we will not take our eyes off the key priorities – improving customer service, maintaining affordability and health and safety.”
Baggs added that, Thames was “very much aware of the current focus on our customers’ cost of living”.
“Our average bill for 2014/15 is expected to be around £360 (before inflation). This is the second lowest in the industry at around £50 below the average,” he said.