WARRINGTON (dpa-AFX) - United Utilities Group plc (UU.L, UUGRY.PK) said that current trading is in line with the group's expectations for the year ending 31 March 2018.
Group revenue is expected to be slightly higher than last year, reflecting allowed regulatory revenue changes, partly offset by the accounting impact of our Water Plus business retail joint venture, which completed on 1 June 2016.
Underlying operating profit for 2017/18 is expected to be moderately higher than 2016/17. Infrastructure renewals expenditure has increased slightly in the second half of the year, although full year IRE for 2017/18 is expected to be similar to last year.
The company expects a small increase in group net debt at 31 March 2018 compared with the position as at 30 September 2017.
The company said it is advanced in plans for PR19, informed by extensive engagement with customers regarding their needs and priorities. It is on track to submit PR19 business plan in September 2018.
The company said it will announce 2017/18 full year results on 24 May 2018.
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