StockMarketWire.com - Water utility Severn Trent said it still expected the Covid-19 crisis to have a negative impact on its annual revenue of between £50m and £85m.

The company said trading in the first quarter of its financial year had been in line with its expectations.

Severn Trent said British regulations would allow it to recover the lost revenue related to the pandemic in the 2023 financial year.

'We have been encouraged by cash collections broadly in line with the same period a year ago,' the company said.

However, it added that it continued to anticipate Covid-19 bad debt increases in line with guidance previously given as government support schemes come to an end.

Severn Trent said it would update the market at its interim results on 26 November.



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