Half Year Results 

United Utilities takes inflation hit

United Utilities takes inflation hit

United Utilities (UU.) saw its underlying operating profit rise by 7 per cent to £393m in the first half of the 2020 financial year, benefiting from lower infrastructure renewals expenditure (IRE) and the absence of one-off extreme weather costs. Having invested more heavily earlier in the current regulatory cycle, AMP6, IRE dropped by more than a fifth to £68m. Statutory pre-tax profit was weighed down by finance expenses, which more than doubled to £194m due to the impact of higher retail price inflation on the group’s index-linked debt.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now