· Ongoing delivery for customers
− Upper quartile position in the UK Customer Service Index for utility companies
− ODIs in line with expectations maintaining sector leading AMP6 ODI performance of £150 million to date1
− Maintained leading waste performance by employing greater use of data and technology to optimise our network
− Continued progress on water performance. Delivering on catchment management customer ODI and forecasting a further 6% reduction in the number of water quality complaints
− Increased water production during hot, dry summer to meet a 22% increase in customer demand
· Planning and investing for the long term:
− Submitted high quality AMP72 business plan delivering 13% Totex efficiency, upper quartile financing and ambitious performance targets while maintaining lowest bills in England and Wales for another five years
− Excellent progress on our capital programme, with capex of £340 million in the first six months of the year and on track for over £650 million by the end of the year
− Locked in c.95% of £870 million totex efficiencies, £100 million reinvestment on track setting ourselves up for a fast start in AMP7
− Investing in renewable energy with our acquisition of Agrivert food waste plants adding an additional 106GWh per annum to our existing portfolio
· Good Group financial results for the half year:
− Group turnover of £881.5 million, up £30.5 million (3.6%)
− Group underlying PBIT3 of £299.1 million, up £12.4 million (4.3%)
− Group reported PBIT £299.1 million, up £4.1 million (1.4%)
− Reduction in effective interest rate by 70 basis points, driving underlying basic EPS4 of 76.2 pence (up 16.3%), basic EPS from continuing operations of 69.8 pence (up 12.2%)
− Interim dividend of 37.35p (up 7.9%)
And later;
Dividends
The Board has declared an interim ordinary dividend of 37.35p per share (2017/18: 34.63p per share), which will be paid on 4 January 2019 to shareholders on the register at 30 November 2018
https://www.investegate.co.uk/severn-tr ... 00061370I/