StockMarketWire.com - Northumbrian Water has recorded a strong financial performance this year with a 6.3% increase in profit before tax

Regulated business operating costs were better than target reflecting good progress in the company's efficiency programme and fixing of power prices to March 2015

Capital investment in the period of £219.9 million for the Group; capital investment for the regulated business, excluding IFRS adjustments, of £221.5 million

Funding and approved facilities are in place to meet the requirements of the business to March 2014; cash and short term deposits at 31 March 2011 £141.7 million

There is a proposed final dividend of 9.57 pence (2010: 8.85 pence) per share to be paid on 9 September 2011, giving a full year ordinary dividend of 14.29 pence (2010: 13.24 pence) per share, an increase of 7.9%

Notable highlights for the year include the start of construction on advanced anaerobic digestion plant at Howdon, on Tyneside, a further step towards the company's target of generating 20% of our energy from renewable sources by 2015

Chief Executive Officer 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.

"We will continue to deliver value to our stakeholders by focusing on our core competencies of water and waste water management, underpinned by our five strategic themes of customer,competit-iveness, people, environment and communities. I am pleased with the progress we have made this year towards achieving that goal.




At 8:32am: [LON:NWG] Northumbrian Water Group share price was -5.05p at 357.65p



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