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Pennon reports higher H1 profit and dividend
30th Nov 2021 07:44
(Sharecast News) - Pennon said sewage problems were reducing as the water company reported higher first-half profit and an increased dividend.
Pretax profit for the six months to the end of September rose 4.3% to £90.4m as revenue increased 22% to £389.3m. The interim dividend rose 4.9% to 11.7p.
The owner of South West Water said pollution incidents halved from a year earlier as it used technology to predict problems. There were 40% fewer sewer collapses, 40% fewer internal floods and 20% fewer external floods. Water companies have come under political pressure after beaches and rivers were flooded with raw sewage.
Susan Davy, chief executive, said: "We continue to pursue a relentless approach to improving operational performance through innovative solutions that drive efficiency. Our sector leading dividend policy recognises the ongoing loyalty of our shareholders."
Pretax profit for the six months to the end of September rose 4.3% to £90.4m as revenue increased 22% to £389.3m. The interim dividend rose 4.9% to 11.7p.
The owner of South West Water said pollution incidents halved from a year earlier as it used technology to predict problems. There were 40% fewer sewer collapses, 40% fewer internal floods and 20% fewer external floods. Water companies have come under political pressure after beaches and rivers were flooded with raw sewage.
Susan Davy, chief executive, said: "We continue to pursue a relentless approach to improving operational performance through innovative solutions that drive efficiency. Our sector leading dividend policy recognises the ongoing loyalty of our shareholders."