Business
Half Year Results 2018/19
Half Year Results 2018/19.
About this update from Pennon Group Plc
[{"type":"text","content":"\n \nRNS Number : 5511I Pennon Group PLC 27 November 2018 \n\n27 November 2018 \n Half Year Results 2018/19\nfor the period ended 30 September 2018\n \nDelivering for customers, communities and shareholders\n \nChris Loughlin, Pennon Chief Executive said: \n \n \"Momentum for Pennon continues with a strong performance in the first half of 2018/19 across both water and waste. We are delivering on our promises to customers and communities and our investment across the Group is driving tangible and positive results. \nIn water, we demonstrated our service resilience in extreme weather conditions, with the aftermath of the exceptional cold weather in March followed by the hottest summer on record. Our focus on customers has been reflected in South West Water's best ever customer service score for this half year. With a relentless focus on efficiency and cost savings, average bills are lower than they were 9 years ago, with a further 11% decrease expected in the next regulatory period 2020-2025 under our new business plan. Customers will be empowered as part of a New Deal giving them a tangible stake and say in South West Water. \nThe focus for Viridor is UK recycling and residual waste processing and transformation. Waste market dynamics are favourable, with the 'Blue Planet' effect spurring action, and we are optimistic that positive changes will be announced in the Government's Resources & Waste Strategy later this year enabling a UK recycling system fit for the future. The operating fleet of Energy Recovery Facilities (ERFs) is performing well, transforming waste into electricity and heat. Progress continues bringing Viridor's remaining four ERFs in the portfolio on stream, with three now in operational ramp up and the final facility under construction. We have further consolidated our position through increasing our holding in on...