CWN - News & Information for Coventry & Warwickshire 20x21spacer.gif (59 bytes)What's New?Search CWN
[03 DEC 99] SEVERN TRENT WATER PRESS RELEASE
Severn Trent Strides Ahead With Non-Regulated Growth Strategy

Interim Results for the six months to 30 September 1999

Severn Trent today reported that the group's strategy was on track with growth in the non-regulated businesses and a strengthened management team in place to continue to drive the business forward.

FINANCIAL AND OPERATING HIGHLIGHTS

Group: Solid financial performance

  • Group turnover up 12.9% to 748.3 million
  • Profit before interest and tax up to 226.0 million (224.3 million)
  • Profit after tax 153.9 million (153.1 million)
  • Interim dividend 17.0p per share (up 4.2% on 1998/99 combined interims)

Non-regulated businesses:
Strong growth – profit before interest and tax up 45% to 24.0 million

Severn Trent Services:
Rapid development, particularly in the US, with turnover up 46% to 148.5 million (109 million) and profit before interest and tax up 40% to 7.7 million (before 1998/99 bad debt provision, reversed in second half)

  • Developing leadership positions in four core market sectors; now market leader in environmental laboratories and chlorine disinfection equipment in the US
  • Three new laboratory business acquisitions announced today and further acquisitions planned

Biffa:
Overall turnover up 17% (14% excluding landfill tax)

  • Continued growth in collection, special waste and Belgium
  • Growth through organic expansion and targeted acquisitions

Severn Trent Water:

  • No appeal to Competition Commission – now focussed on meeting targets of the challenging regulatory review
  • 1100 jobs to go in next 2 to 3 years
  • Cost cuts will not compromise quality and safety standards

To view the full text of the Interim Results please go to
http://www.severn-trent.com
  

1x22rule.gif (89 bytes)
Warwickshire County Council - Our County 1998-2001

150x15more.gif (274 bytes)

SEVERN TRENT

FINANCIAL INFORMATION
[UK EQUITIES DIRECT]

REQUEST AN
ANNUAL REPORT

[UK EQUITIES DIRECT]




Help support CWN - buy your books online with Amazon



Take a tour of Coventry with an official Coventry Tour Guide

CWN / Business / A-ZSevern Trent Water / 3 Dec 99

1995-2000 Coventry Internet Developments Ltd

This page modified on 10 November 2008 09:49:15AM