Business
Full Year Results 2020/21
Full Year Results 2020/21.
About this update from Pennon Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6586A\n Pennon Group PLC\n 03 June 2021\n \n \n \n \n 3 June 2021 \n \n \n Full Year Results 2020/21\n \n \n \n \n \n \n \n \n Bringing water to life\n \n \n \n \n Supporting the lives of people and the places they love for generations to come\n \n \n \n \n \n \n Susan Davy, Group Chief Executive, commented:\n \n \n \n \n \n This has been a pivotal year for the Group as we have repositioned Pennon to focus on driving sustainable growth in the UK water sector, building stability for the longer term, and recognising ongoing shareholder loyalty.\n \n \n \n \n \n One of my main priorities as the new CEO has been to focus everyone on transforming Pennon to be the best place to work, supporting one another and our communities through the pandemic. The worst of times brings out the very best in people, and that's true of everyone who works for the Group. I'm so proud of the way they have responded to the challenge.\n \n \n \n \n \n We have ensured Pennon is well positioned for the future, reinvesting for growth, and retaining sufficient funds to drive further value. The acquisition of Bristol Water announced today, is the next step in the growth of the Group, building on significant experience as a leader and consolidator in the industry.\n \n \n \n \n \n Additionally, we have demonstrated our credentials as a responsible business, reducing debt levels, increasing pension contributions, and further supporting the Green Recovery for the much-needed regeneration of our region. \n \n \n \n \n \n With one in 16 households now shareholders as part of our innovative Watershare+ scheme, giving customers a stake and a say, we've made a strong start to K7, focusing on what matters most, with c.80% of ODIs on or ahead of track. Operating in the public interest, we are also putting ESG at the forefront of our decision making, as we scale up investment in the environment, kickstart our race to net zero, and deliver sustainable solutions.\n \n \n \n \n \n Our sector leading dividend policy, together with the planned special dividend, recognises the ongoing loyalty of our shareholders, underpinned by the Group's confidence in our ongoing growth strategy, and building a sustainable future for all.\n \n \n \n \n \n TRANSFORMATIVE YEAR FOR PENNON...