Alliance News) - Severn Trent PLC on Thursday said it continues to deliver a "strong" operational performance and "resilient" financial results despite the challenges of the Covid-19 pandemic.
The FTSE 100 water utility serves the English Midlands and parts of Wales.
It said that, as a result of remaining on or ahead of target for almost 80% of its customer performance measures, it has increased its outperformance guidance on customer outcome delivery incentives this year to GBP50 million from GBP25 million previously.
"We remain confident of delivering our full-year results in line with expectations and prior guidance," Severn Trent added.
For the period beginning October 1 to Thursday, the utility said it remains on track for its "best ever performance" in its Water division on a number of measures, including the compliance risk index and water quality complaints.
In its Waste division, Severn Trent said it has started its asset management plan one "strongly", with 25% fewer blockages and a 15% reduction in pollutions in the calendar year. Its biodiversity programme is on track to deliver more than 2,200 hectares of enhanced natural environment, delivering the firm's five-year target in the first year of the asset management plan one.
Severn Trent plans to publish its full-year results in May 26.
Shares in Severn Trent were down 0.6% at 2,351.00 pence in London on Thursday.
By Zoe Wickens; zoewickens@alliancenews.com
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Severn Trent (SVT)