· Pennon is on track to meet management expectations for full year 2018/19
· Underlying PBT up +8.7% following:
o Higher revenues and EBITDA at South West Water reflecting increased customer demand over the summer
o Continued cost saving focus, leading to Total Expenditure (Totex) outperformance, at South West Water, a key component to RORE[7]. On track for continued outperformance for 2018/19
o EBITDA growth of +17.7% at Viridor supported by the build out of new ERFs
o Momentum in group efficiencies maintained with c.£15 million p.a of the £17 million p.a expected from 2019 already secured
· Statutory PBT up +2.9% to £133.6 million
· Statutory earnings per share growth of +3.8p to 25.6p
· Interim dividend per share up +7.3% to 12.84p
And later;
For H1 2018/19, the Board has recommended an interim dividend of 12.84p, up 7.3%. The interim dividend will be paid on 4 April 2019 to shareholders on the register on 25 January 2019.
https://www.investegate.co.uk/pennon-gr ... 00175511I/