Advertisement

United Utilities trading in line despite tough climate

Tough market conditions in United Utilities' third quarter meant that the company was unable to increase revenue at the same rate as price rises.

Tough market conditions in United Utilities' third quarter meant that the company was unable to increase revenue at the same rate as price rises.

The water group said on Wednesday that trading since the first half (October 1st) has been in line with its expectations, with revenue continuing to increase at a rate "slightly below the slowed regulated price rise for 2012/13".

Advertisement - Article continues below

This reflects the ongoing impact of a tough economic climate on commercial volumes, the firm said. Furthermore, depreciation, power and other costs have also risen as expected which mostly offset the increase in revenue.

The company said that it continues to make "good progress" on its regulatory capital investment programme and remains on track to invest around £750m in its asset base in 2012/13.

"United Utilities is confident of delivering a good underlying financial performance for the year ending March 31st 2013 and continues to be on track to meet its 2010-15 regulatory outperformance targets," the firm said.

"The company remains strongly focused on building on its recent operational and customer service progress and sees plenty of scope to deliver further improvements."

Shares were up 0.81% at 746p in early trading on Wednesday.

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/economy/inflation/601584/the-end-of-the-bond-bull-market-and-the-return-of-inflation
Inflation

The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020
Visit/investments/commodities/gold/601587/bullish-gold-price-cup-and-handle-chart-pattern
Gold

This chart pattern could be extraordinarily bullish for gold

The mother of all patterns is developing in the gold charts, says Dominic Frisby. And if everything plays out well, gold could hit a price that invest…
1 Jul 2020
Visit/investments/property/601606/house-prices-crash-uk-property-prices-falling-where-next
Property

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020