http://www.investegate.co.uk/article.as ... 9392T&fe=1
Group revenue is expected to be higher than last year, largely reflecting our allowed regulatory revenue changes.
Underlying operating profit for 2018/19 is expected to be higher than 2017/18. Underlying infrastructure renewals expenditure (IRE) in the second half of the year is expected to be broadly consistent with the first half of the year.
Reported operating profit will be impacted by costs relating to the exceptional period of dry weather in the summer of 2018, guaranteed minimum pension (GMP) equalisation and restructuring within the business. To provide a more representative view of business performance, operating costs associated with these items will be excluded from the underlying profit measures. These adjusted items are expected to total £52 million for the full year, of which £29 million was recognised in the first half.
The RPI inflation that is applied to the group's index-linked debt is lower than last year and we therefore expect the underlying net finance expense for 2018/19 to be around £45 million lower than 2017/18.
That's quite a big drop in finance expenses due to a fall in RPI - of course it could go the otherway if inflation rises and is clearly indicative of the amount of debt held by the company.