StockMarketWire.com - Utilities company United Utilities reported a rise in first-half profit as higher revenue and lower costs bolstered performance.

For the six months ended 30 September, pre-profit profit increased by £12 million to £213 million year-on-year as revenue increased 4% to £932.3 million.

The increase in profit reflected a £14 million increase in reported operating profit and a £2 million reduction in reported net finance expense.

The company proposed an interim dividend of 14.50 pence per ordinary share, an increase of 0.6% from last year.

Looking ahead, the company forecast revenue for the full year to grow around 2% higher than 2020/21, reflecting higher overall consumption by its customer base.'

'We have continued with the great start that we have made to AMP7, benefitting from the acceleration of our AMP7 investment programme,' the company said.

'We remain confident in our target of cumulative net outperformance of around £150 million against our customers ODIs for AMP7.'




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