StockMarketWire.com - Northumbrian Water today reported a pretax profit of £152.7m in the year to March, with revenues rising to £694m from £670m after it raised tariffs. Northumbrian said current funding is sufficient to meet all of the group's requirements through to 2011.

Adjusted EPS fell 17.5% to 22.05p and a dividend of 12.79p was proposed, up 6% from 12.07p the prior year.

Regulated capital investment in the period was £228.9m (2008: £232.6m).

The group said demand for water and sewerage services was down 1%.

Managing Director John Cuthbert said, 'The Group has produced good financial and operating results against a difficult economic background. Overall, demand for water and sewerage services is down by 1%. Energy prices continue to be volatile and, despite managed reductions in demand, have increased operating costs in the year.

'The Group continues to benefit from low cost debt secured to finance all of its requirements through to 2011.

'Northumbrian Water Limited submitted its Final Business Plan in April and awaits the Draft Determination from Ofwat in July.'



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