Sign up
Oil Capital

Severn Trent expects to deliver a full-year trading performance in-line with previous guidance

The FTSE 100-listed water company said there have been no material changes to current year business performance or outlook since it reported its interim results
Water
Severn Trent said its capital programme is progressing well and it is on track to deliver its biggest capital spend in a decade

Severn Trent PLC (LON:SVT) continues to expect that it will deliver a full-year trading performance in-line with its expectations and prior guidance.

In a trading update for the period from 1 October 2019 to 6 February 2019, the FTSE 100-listed water and wastewater company said there have been no material changes to current year business performance or outlook since it reported its interim results on 22 November 2018.

READ: Severn Trent delivers strong first half, sees biggest capital spend for a decade

The firm said its capital programme is progressing well and it is on track to deliver its biggest capital spending in a decade, while its re-investment programme from part of the £870m Totex efficiencies is continuing at pace.

Severn Trent added that its guidance of a net neutral position for full-year 2018/19 from regulator Ofwat's decision to increase the cap on wastewater customer ODIs (outcome delivery incentives) from 2% to 2.6% of RoRE (return on regulatory equity), from 1 January 2019. remains unchanged.

The group also said that, following Ofwat's announcement last week, it is delighted to have been selected as one of only three fast-track companies for its 2019 price review plan.

It added: “We welcome the clarity this early assessment provides to help us plan for a fast start in April 2020.”   



Register here to be notified of future SVT Company articles
View full SVT profile View Profile
View All

© oil Capital 2019

Oil Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed oil companies to interact with institutional and highly capitalised investors.
Headquartered in London, Oil Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.