- Water supplier United Utilities said it expected to post higher revenue and profit in the first half of its financial year.

The company said revenue for the six months through September would rise on-year, largely reflecting allowed regulatory revenue changes.

Underlying operating profit was also expected to be higher, thanks to the rise in revenue and lower infrastructure renewals expenditure.

However, United Utilities also said the RPI inflation that was applied to its index-linked debt was higher for the first half of the year. It therefore expected its underlying net finance expense for the first half to be just over £10m higher on-year.

Net debt was expected to rise to around £250m.

United Utilities said it was committed to sharing with customers the benefit of its anticipated regulatory outperformance, through £350m of additional investment.

The figure included £100m of additional investment announced by the company in May, targeting areas where it had an opportunity to deliver improved performance.

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