WARRINGTON (dpa-AFX) - United Utilities Group PLC (UUGRY, UU.L), a provider of water and wastewater services, reported Thursday significant growth in profit for the first half of fiscal 2027, driven by increased revenues. Further, the firm maintained fiscal 2027 outlook.
In the first half, profit before tax climbed 65.8 percent to £539.2 million from last year's £325.3 million. Profit after tax grew 66.8 percent to £400.3 million from £240.0 million a year ago. Earnings per share were 54.6 pence, higher than 35.1 pence last year.
Underlying Profit before tax was £411.9 million, up 5.3 percent from last year on a pro forma basis. Underlying earnings per basic share were 56.3 pence, a drop of 1.6 percent on a pro forma basis from the previous year.
Underlying operating profit of £579 million grew 7 percent on the pro forma prior half year, principally driven by higher allowed revenues.
EBITDA climbed 12.5 percent from last year to £904.3 million, and underlying EBITDA improved 8.3 percent to £849.2 million on a pro forma basis.
Revenue was £1.462 billion, 11.7 percent higher than last year's £1.309 billion. On a pro forma basis, underlying Revenue grew 9.1 percent to £1.407 billion.
Further, the firm announced interim dividend of 18.51 pence per share, 3.5 percent higher than last year's 17.88 pence per share.
The interim dividend is expected to be paid on February 1, 2027 to shareholders on the register at the close of business on December 18, 2026.
Looking ahead for fiscal 2027, the company continues to project underlying revenue to increase to between £2.7 billion and £2.8 billion.
The company also expects capital investment to be around £11.5 billion, supporting a c.10 percent compound growth in the asset base between 2025 and 2030.
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