Business
Interim results - six months to 30 September 2017
Interim results - six months to 30 September 2017.
About this update from Severn Trent Plc
[{"type":"text","content":"\n \nRNS Number : 2903X Severn Trent PLC 23 November 2017 \n\nLEI: 213800RPBXRETY4A4C59\n \nHalf Yearly Financial Report\n23 November 2017\nInterim results for the six months to 30 September 2017\n \nStrong customer delivery and investment across the network drive continued progress\n \n· Group financial results for the half year reflect ongoing momentum:− Group turnover of £850.4 million, up £30.4 million (3.7%) − Group underlying PBIT1 of £287.8 million, up £12.1 million (4.4%) − Group reported PBIT £296.1 million, down 0.2%− Underlying basic EPS2 of 65.9 pence (up 7.7%). Reported basic EPS from continuing operations 62.6 pence (down 20.2%)− Interim dividend of 34.63p (up 6.2%) \n· Customers are at the heart of our business:\n− Improved services: significant improvements in customer ODIs3 - including a 38% reduction in internal sewer floodings and a 50% reduction in external floodings \n− Lowest bills: on average less than £1/day; £32 p.a. less than next cheapest in England and Wales\n− Network improvements: investing over £3 billion of capex during AMP64 for the future of our network. £324 million5 invested in H1 2017/18 \n− Vulnerable customers: beating our target to help over 50,000 customers this year\n \n· Delivering benefits for our stakeholders:\n− Social responsibility: generating equivalent of 38% of energy needs from renewables; on track for 50% by 2020. Commitment to move our fleet to alternative fuel vehicles and embrace green energy\n− Customer ODIs: we now forecast net outperformance payments of at least £50 million, and expect to hit the Waste cap6 for AMP6\n− Efficiencies: forecasting £770 million7 AMP6 efficiencies, with a further £50 million locked in during H1 2017/18. £660 million or 86% of total efficiencies now locked in \n− Property profits: unlocking value in surplus land, helping the housing shortage and benefitting customers through lower future bills. £5 million - £15 million p.a. PBIT; c.£100million PBIT over the next 1...