WARRINGTON (dpa-AFX) - United Utilities Group Plc. (UU.L) reported that its profit after tax for fiscal year ended 31 March 2019 rose to 363.4 million pounds or 53.2 pence per share from last year's 354.6 million pounds or 51.9 pence per share, reflecting the 4 million pounds increase in the reported profit before tax.
Underlying earnings per share increased to 55.5 pence from 44.7 pence in the prior year.
Underlying profit after tax was 379 million pounds, up 74 million pounds from the prior year, principally reflecting the 90 million pounds increase in underlying profit before tax.
Reported profit before tax increased by 4 million pounds to 436 million pounds reflecting the 1 million pounds reduction in reported operating profit more than offset by a 1 million pounds reduction in reported net finance expense including fair value movements and a 4 million pounds increase in share of profits from joint ventures.
Underlying profit before tax was up 90 million pounds, at 460 million pounds, largely reflecting the increase in underlying operating profit and a 46 million pounds decrease in the underlying net finance expense. The decrease in the underlying net finance expense is mainly due to the impact of lower RPI inflation on index-linked debt.
Revenue rose 83 million pounds to 1.82 billion pounds, from last year largely reflecting allowed regulatory revenue changes.
The board has proposed a final dividend of 27.52 pence per ordinary share, an increase of 3.9 per cent. The final dividend is expected to be paid on 1 August 2019 to shareholders on the register at the close of business on 21 June 2019. The ex-dividend date is 20 June 2019.
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