LONDON (dpa-AFX) - Utility company Pennon Group Plc (PNN.L) reported Thursday that its water and waste businesses are performing well. The company is on track to deliver a good set of results for the full year 2016/17. The Board considers that Pennon will deliver trading performance consistent with its expectations and prior guidance.
In its trading update, the company noted that the South West Water is on course to remain at a sector-leading 11.7% RORE and Viridor is on track to contribute the targeted c.£100 million of EBITDA from its portfolio of Energy Recovery Facilities.
Pennon noted that operational performance is supported by cost savings and synergies across the Group. Growth is being delivered through Viridor's portfolio of twelve Energy Recovery Facilities (ERFs) across the UK.
Pennon intends to announce its full year results for 2016/17 on May 24.
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