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.

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