- Water utility Pennon Group said it expected British regulators to release a draft determination on a five-year business plan on 11 April.

A final determination for the 2020-to-2025 plan was then expected by December, the company said.

Pennon also said that its underlying performance for the year through March was in line with expectations.

'We remain confident in the UK residual waste sector fundamentals, with further capacity essential to meet longer term demand,' it said.

'With our clear strategy of focusing on the UK water and waste market, supported by a strong balance sheet, Pennon is well-placed to continue to deliver for customers, communities and shareholders.'

Pennon said its South West Water asset continued to deliver strong operational and financial performance, with a focus on efficiency and customer service.

Return on regulated equity was on track for consistent continued outperformance in 2018/19, it added, with an expected cumulative rate of 11.8%.

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