Strong start to the year for Severn Trent
Water company Severn Trent has reported a strong start to the year after it invested to improve its network.
The group, which serves millions of customers across the Midlands and mid Wales, saw turnover rise to £958.2 million in the six months to September 30, 2021 from £887.6 million in the same period last year. Meanwhile, pre-tax profit increased by 16.1 per cent to £146.9 million.
Seven Trent said the group turnover was in line with expectations as a result of a strong recovery in non-household consumption following the lifting of lockdown restrictions.
Its operational performance was ahead of plan and it had achieved a sector-leading performance in waste, resulting in less disruption for customers.
The group added it has invested over £500 million in river quality so far into its current Asset Management Plan (AMP).
Liv Garfield, chief executive of Severn Trent, said: "We've made another strong start to the year as we focus on delivering for stakeholders across our region and delivering for customers in the areas that matter most to them, all while driving the financial performance of our business.
"We've continued to invest significantly in our network, in our people and to support our strong commitment to the environment. Our environmental ambitions remain at the heart of our company, whether planting over a million trees, reducing our carbon emissions, or producing an extra 95 million litres of water to tackle the threat of water scarcity.
"Severn Trent should be a force for good in our region and I'm delighted our Green Recovery programme is creating valuable jobs, helping support the Government's levelling up agenda and the broader economic recovery."
Earlier this year, Severn Trent became the Official Nature and Carbon-Neutral Supporter of the Birmingham 2022 Commonwealth Games.
