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Pennon Group Half Yearly Results

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idpickering
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Pennon Group Half Yearly Results

#183143

Postby idpickering » November 27th, 2018, 7:06 am

· 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/

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