Business
Pennon Group - Trading Statement
Pennon Group - Trading Statement.
About this update from Pennon Group Plc
[{"type":"text","content":"\n \nRNS Number : 6398R Pennon Group PLC 25 September 2017 \n\n25 September 2017\n \nPENNON GROUP PLC\n \nTrading Statement \n \nPennon, one of the UK's largest environmental infrastructure groups, is issuing the following update ahead of its results for the half year ended 30 September 2017, which will be announced on 29 November 2017.\n \nPennon is on track to deliver in-line with management's expectations across both its water and waste businesses. \n \nProgress is being made on the final agreements relating to the Greater Manchester PFI Contract. At Glasgow's Recycling and Renewable Energy Centre (GRREC), the ERF remains on schedule to enter final commissioning by the end of 2017.\n \nOn 11 September 2017, Pennon launched a tender offer for its 2013 6.75% hybrid alongside the issuance of a new 2017 hybrid. £286 million has been redeemed through the tender offer, while the remaining £14 million has been called. This process is expected to complete in October 2017. The new 2017 £300 million hybrid successfully completed on 22 September 2017 with an annual coupon rate of 2.875% and a first call date of 22 May 2020. \n \nOutlook\n \nPennon continues to deliver a robust underlying financial performance for 2017/18. With our clear strategy and strong balance sheet, Pennon is well-placed to continue to deliver for customers, communities and shareholders.\n \nHalf Year Results - 29 November 2017\n \nPennon intends to announce its half year results for 2017/18 on Wednesday 29 November 2017. Further information on Pennon, Viridor and South West Water can be found on the Group's website, www.pennon-group.co.uk\n \n \nFor further information, please contact:\nPennon: Susan Davy - Chief Financial Officer \n Sarah Heald - Director of Corporate Affairs & Investor Relations\n 01392 443 401\nFinsbury: &n...