United Utilities is floating along, but still suffering from the stuttering economy, the water giant said today.
The Northern-focused supplier said revenues rose in the six months to October, reflecting the regulator’s price increase, but the rise wasn’t as high as it could be “reflecting the ongoing impact of a tough economic climate on volumes”.
Factories and other commercial sites use less water when they’re not at full production.
But United, which supplies seven million people in the North-west of England, still said underlying operating profit for the first half will be “moderately higher” than the same time last year, as costs have been held down.
Shares in the firm, which owns 184 reservoirs in the UK, rose very slightly, up 4.4p to 695.9p.
