Pennon on target to meet full year expectations
11th Feb 2016 09:30
(ShareCast News) - Water utility and waste management company Pennon Group said it was on track to meet management expectations for the year ending 31 March thanks to solid performances across its divisions. The company said its return on regulated equity - a measure of the return the company earns
Read morePennon Group creates group CEO role
9th Dec 2015 07:52
(ShareCast News) - Pennon Group has created a new group chief executive role following a review of the water and waste company's corporate structure. Christopher Loughlin, who is currently the chief executive of its subsidiary South West Water, will take up the role on 1 January. Dr Stephen Bird, w
Read moreInvestec downgrades Pennon Group on strong share performance
30th Nov 2015 09:56
(ShareCast News) - Investec has downgraded Pennon Group from 'buy' to 'hold' after the company's strong share performance. The FTSE 250 water company posted a rise in first half profit and earnings on Friday despite a small drop in revenue, as all businesses across the group performed well. For the
Read morePennon posts rise in first half profit, lifts dividend
27th Nov 2015 07:35
(ShareCast News) - FTSE 250 water company Pennon posted a rise in first half profit and earnings despite a small drop in revenue, as all businesses across the group performed well. For the half year to the end of September, pre-tax profit rose 6.8% from the same period last year to £106.8m, while ea
Read morePennon wins CMA clearance for Bournemouth Water Deal
5th Nov 2015 10:57
(ShareCast News) - Pennon Group has received unconditional clearance from the Competition and Markets Authority for its acquisition of Bournemouth Water and the subsequent merger of Bournemouth Water with South West Water. The utility infrastructure company said South West Water aims to merge the tw
Read moreLondon midday: Investors remain on sidelines ahead of US data
28th Aug 2015 11:34
(ShareCast News) - Investors stayed on the sidelines ahead of the release of a fresh batch of economic data Stateside in the afternoon, despite optimistic calls from many strategists. As of 1143 BST the Footsie was 2.95 points lower to 6,198.93 and Germany´s Dax-30 off by 0.65% to 10,248.60. Overnig
Read morePennon's Viridor chief executive buys new shares
1st Jun 2015 15:35
The chief executive of Pennon's Viridor bought some shares following upbeat full-year results. Ian McAulay, who has been on the board since 2013, purchased 9,045 shares for an individual price of 853.77p, spending a total of £0.77m in the transaction. Viridor is Pennon's renewable energy, recycling
Read morePennon's full-year earnings rise; dividend up nearly 5%
20th May 2015 10:37
London-listed utility company Pennon reported a 0.9% rise in core full-year earnings to £411m, pointing to a strong focus on cost efficiency and higher profits at its Viridor recycling and waste unit. Pennon also said it is sticking to its target to pay shareholders annual dividend increases of 4% a
Read moreFriday tips round-up: Debenhams, Pennon
17th Apr 2015 16:56
Debenhams has always traded at a discount to the retail sector due to the belief that department stores will struggle to compete with other retailers. News at the start of 2015 that sales had struggled in the fall in the face of cold weather placed a further drag on the stock. However, markets seem
Read moreFTSE 250 movers: Miners lower, WH Smith continues higher on franchise partner offers
17th Apr 2015 13:33
Mining stocks were trading lower, a result of widespread fluctuation in metal prices and Credit Suisse revealing that industrial metals performed poorly in March. Evraz, Vedanta Resources and Petra Diamonds were all in the red. Serco Group dipped as Fitch Ratings warned that the general election wou
Read morePennon acquires Bournemouth Water for £100m
16th Apr 2015 08:08
Waste management and water utility company Pennon Group has reached an agreement to acquire Bournemouth Water from Sembcorp Holdings for £100.3m. The company, which owns South West Water, said it will launch a share issue to fund the acquisition. The pricing of the issued shares will be determined b
Read morePennon Group shares rise after upbeat trading update and outlook
23rd Mar 2015 08:09
Shares in Pennon Group rose 1% at 839p on Monday after the UK utilities company pleased investors with an upbeat trading update and outlook statement. Pennon said trading remains in line with expectations for its financial year to the end of March. It noted that its South West Water business is perf
Read morePennon Group appoints Sir John Parker as new chairman
20th Mar 2015 08:08
Environmental utility infrastructure company Pennon Group has confirmed group chairman Ken Harvey will retire on 31 July. Harvey, who has been in his current role since March 1997, will be replaced by Sir John Parker, who will join the board as an independent non-executive director and as deputy cha
Read moreMonday broker round-up
15th Dec 2014 09:29
Ashtead Group: Berenberg raises target price from 1170p to 1345p and keeps its 'buy' recommendation. Aviva: Citi increases target price from 590p to 620p and maintains a 'buy' recommendation. Bellway: Deutsche Bank ups target price from 1760p to 1778p and reiterates its 'hold' recommendation. Berk
Read morePennon will not appeal final regulatory settlement
15th Dec 2014 07:54
South West Water (SWW) owner Pennon Group says it will not challenge a final settlement on its pricing and investment plan imposed by UK utility regulator Ofwat. Pennon said the so-called final determination would result in a 13% real-terms reduction in prices for customers from 2014 - 2020. Ofwat
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