LONDON (dpa-AFX) - Pennon Group plc (PNN.L), clean water and wastewater services provider, Thursday reported a loss before tax of 8.5 million pounds for the full year, compared with a profit before tax of 127.7 million pounds in the previous year, primarily due to higher operating costs.
Excluding one-time items, the company posted underlying profit before tax of 16.8 million pounds, lower than 143.5 million pounds last year.
Net profit for the period was 0.4 million pounds or breakeven per share compared with 15.6 million pounds or 4.9p per share earned a year ago.
Underlying profit was 20.4 million pounds lower than 129.6 million pounds in the previous year. Adjusted EPS declined to 7.3p from 50.2p last year.
Statutory revenue for the fiscal 2022-23 was 797.2 million pounds compared with 792.3 million pounds a year ago.
Underlying revenue increased to 825 million pounds from 792.3 million pounds prior year.
The Board has recommended a final dividend of 29.77 pence per share for the year with a record date of July 21. The dividend is to be paid on September 4.
Looking forward, the company expects fiscal 2023-24 revenue to increase from the previous year.
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