Northumbrian Water sees profits surge
Northumbrian Water has announced its preliminary results for the year ended 31 March 2011 posting pre-tax profit of £181m, up from £170.2m last year.
Profit attributable to equity shareholders was £178.3m or 34.38 pence per share, compared to £122.5m or 23.62 pence per share in the prior year.
Adjusted earnings per share rose to 25.45 pence from 23.62 pence in the previous year.
CEO Heidi Mottram said “This has been my first year as CEO of the group and also the first year of a new five year regulatory period.
“We have taken this opportunity to review our strategy, vision and values and have reaffirmed our goal to be the national leader in the provision of sustainable water and waste water services.
“The group continues to produce strong financial and operational results and has funding in place to meet our requirements for the next three years. We expect to perform well against our regulatory and contractual targets over the next four years.”