United Utlities to discount water bills, reports rise in first half profits

27th Nov 2013 07:02

- Water bill discounts in 2014- Operating profit and revenue rises in first half- Dividend raised to 12.01p from 11.44p UK water company United Utilities Group said it would be discounting bills next year as it reported a rise in profits in the first half. The FTSE 100 firm insisted that bills will go up by no more than inflation in an effort to improve customer satisfaction.At the same time the group reported its results for the six months through September. Operating profit came to £341.7m, up from the previous year's £314.7m, driven by customer consultation and cost saving initiatives. Revenue climbed to £853.3m from £822.9m."Customer satisfaction with our service has continued to improve, underpinned by strong operational and environmental performance, and we remain focused on delivering further improvements," said Chief Executive Officer, Steve Mogford. "We are on track to invest at least £800m this year in our network, maintaining and improving services, providing environmental benefits and supporting the local economy."Mogford added that customers will benefit from below inflation average household bills for the decade to 2020. The group raised its interim dividend to 12.01p from 11.44p a year earlier. RD