WARRINGTON (dpa-AFX) - United Utilities Group Plc (UU.L, UUGRY.PK) reported Thursday that current trading is in line with its expectations for the first half.
For the first half, underlying operating profit is expected to be lower than last year, largely reflecting the lower revenue and an anticipated moderate increase in infrastructure renewals expenditure.
Group revenue is expected to be lower than the first half of last year, mainly due to allowed regulatory revenue changes and lower consumption from businesses as a result of COVID-19, partly offset by higher consumption from households.
Overall, the net reduction in revenue in the first half of the year is expected to be around 5 percent.
In its trading update ahead of half year results on November 25, the company said operational performance in the first half is on track against its AMP7 plan, notwithstanding the pandemic.
The company continues to target net outcome delivery incentive or ODI outperformance for the full year 2020/21.
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