Pennon returns to annual profit of 135.1 million pounds
Pennon posted a 135.1 million pound annual profit as revenues rose 25 percent. CEO Keith Haslett warned that operational discipline must improve to meet goals.
Insights:
Pennon Group returned to an annual adjusted pre-tax profit of £135.1 million for the year ended March 31. This result follows a £35.1 million loss the previous year as regulated water revenues rose 25% on higher tariffs and consumption. The recovery signals financial stabilization even as the utility faces significant regulatory penalties and rising performance targets.
