(Alliance News) - Pennon Group PLC on Tuesday reported "resilient" operational performance since the beginning of its financial year in March, through record levels of demand for water.
The Exeter, England-based water utility company said the pandemic has led to a population increase in the regions its serves. Alongside this, as restrictions have eased businesses have ramped up demand, resulting in increased water usage and an increase in overall revenue.
Earnings before interest, tax, depreciation and amortization for the six months to the end of September remains in line with expectations, Pennon said, as increased costs have been offset by increased revenue.
"Pennon Group is on track to deliver resilient financial performance in line with management expectations," said Chief Executive Susan Davy.
FTSE 250-listed Pennon shares were trading 2.9% lower in London on Tuesday morning at 1,145.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Pennon (PNN)