LONDON (dpa-AFX) - Pennon Group Plc (PNN.L), a British water utility company, said on Monday that the trading was in line with its expectations for the six-month period to September 30.
In addition, the Group plans to invest 2.8 billion pounds in water quality and resilience with an aim to fix storm overflows at beaches and eradicate pollution.
The company said: 'Financial performance for 2023-24 is expected to be weighted into H2, reflecting lower power costs, and the realisation of further efficiencies as we continue to unlock synergies from the integration of Bristol Water and reshape our organisation for K8.'
The company said that its unit South West Water, on Monday has submitted its five-year business plan for the period 2025-30 to Ofwat, an English water services regulation authority.
The 2.8 billion package of capital investment outlined are built around addressing four key challenges including, storm overflows and pollutions, water quality and water resilience, delivering Net Zero and environmental gains, whilst ensuring bills remain affordable for all.
Pennon is scheduled to release its first-half result on November 29.
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