focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE
Stephen Yiu, FM at WS Blue Whale, discusses Nvidia, Visa/Mastercard, Lam Research & Allied Materials
Stephen Yiu, FM at WS Blue Whale, discusses Nvidia, Visa/Mastercard, Lam Research & Allied MaterialsView Video
Ben Turney, CEO at Kavango Resources, explains the company's progress from exploration to mining
Ben Turney, CEO at Kavango Resources, explains the company's progress from exploration to miningView Video

Latest Share Chat

Severn Trent confirms full-year outlook

Wed, 14th Feb 2024 07:29

(Sharecast News) - UK water and waste firm Severn Trent reiterated its full-year outlook on Wednesday.

In a brief trading update, the London-listed firm - which supplies customers across the Midlands and Wales - said its "robust" financial performance remained in line with expectations.

It added that there had been "no material changes to the current year business performance or outlook" since its interim results, published at the end of November.

Severn said last autumn that it expected an increase in sales of between 7.5% and 10% over the year to March 2024 in its regulated water and waste water business.

It also flagged higher operating costs, due to rising energy prices and pay alongside increased investment to stem flooding.

Analysts currently expect annual pre-tax profits to come in around £238m, compared to £168m a year previously.

Severn also confirmed on Wednesday it was confident of retaining its four-star status in the Environment Agency's annual Environmental Performance Assessment. Four stars is the highest rating achievable.

The blue chip continued: "We continue to guide to at least £50m in outcome delivery incentive (ODI) rewards this year, despite having experienced ten named storms since September, contributing to the last six months of 2023 being the third wettest for England on record."

ODIs are a framework of outcomes, measures, targets and incentives which rewards companies for meeting specific performance targets. They are also used to compensate customers if companies fail to meet targets.

Related Shares

More News
15 May 2024 16:03

UK earnings, trading statements calendar - next 7 days

19 Apr 2024 16:56

London close: Stocks mixed as investors watch Middle East newsflow

(Sharecast News) - London's stock markets closed in a mixed state on Friday as traders kept a close watch on escalating tensions in the Middle East.

17 Apr 2024 09:33

LONDON BROKER RATINGS: BofA cuts Ashmore; JPMorgan lifts Fresnillo

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

17 Apr 2024 07:52

LONDON BRIEFING: Antofagasta backs outlook; Entain says "more to do"

(Alliance News) - London's FTSE 100 is called to open lower on Wednesday, after a loftier than expected UK inflation reading, and amid lingering US in...

15 Apr 2024 09:49

LONDON BROKER RATINGS: UBS raises Crest Nicholson; Stifel cuts CRH

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.