StockMarketWire.com - Northumbrian Water reported revenue of £704.7m for the year to end-March, up 1.5% from £694.1m the prior year, mainly reflecting the uplift in tariffs. The group proposed a final dividend of 8.85p up from 8.5p).

Profit before tax was £170.2m, up 11.5% from £152.7m the previous year.

Net debt was £2.262bn at period end, compared to £2,229bn.

The group proposed a final dividend of 8.85p (2009: 8.5p) per share, giving a full year ordinary dividend of 13.24p (2009: 12.79p).

CEO, Heidi Mottram, said: 'The Group continues to produce good financial and operational results. Income increased slightly despite the impact of the economic downturn; business closures amongst our customers appear to have stabilised.

'The Group has financing in place to cover all its requirements through to the end of 2011. We have accepted the outcome of the price review for the period to March 2015 and have begun the programme of delivering the agreed outputs and increasing our already high standards of customer service. There is a sound base from which to create more efficient operations.' Story provided by StockMarketWire.com