Thames Water payout up as profits improve
Wednesday 30 October 1996
The news was greeted enthusiastically by the markets, with several teams of City analysts revising their profit forecasts upwards. The shares climbed 7.5p to 552.5p.
As Ian Byatt, the water regulator, castigated the industry for failing to meet investment targets and doubling dividends, Thames management pledged to invest a further pounds 150 over the next five years on water and sewage improvements.
"That's the customers' share of the improvements we've made," said David Luffrum, the finance director. Profits excluding exceptional items in the six months to the end of September rose from pounds 163.9m to pounds 188.2m. Earnings were boosted by a reduction in losses from Thames' troubled diversification.
Investment column, page 21
- 1 What happens to your body when you give up sugar?
- 2 Licence fee: What is the BBC charge – and how will the changes affect you?
- 3 This is what the photographer has to say about the picture of a weasel riding a woodpecker
- 4 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Durham Free School: 'Creationism taught at' free school facing closure
Ukip would cut billions from Scottish budget to fund English tax cuts
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...
£50000 - £60000 per annum + Excellent Salary: Austen Lloyd: An outstanding new...
£20000 - £21000 per annum + uncapped commission: SThree: As a graduate you are...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...