24 Jun 2013
The UK’s largest water company, United Utilities has released their end of year financial accounts which show a profit and revenue increase of £71m. Pre-tax profit for the previous year has increased by 10.5% to £266m. This is largely due to an increase in regulated prices, retail price index inflation and customers switching meters.
Steve Mogford, Chief Executive of United Utilities, said: “We have delivered a third year-on-year improvement in customer satisfaction, underpinned by good operational and environmental performance and remain on course to deliver our regulatory outperformance targets”. We do, however, recognise that we have more to do to achieve our vision and we see considerable opportunities to deliver further improvements”.
Operational highlights state that they have delivered significant customer and environmental benefits and beaten the annual leakage targets set by Ofwat for the financial year. The company owns and manages the regulated water and sewage services for more than seven million customers across North West England.