Financial and operational performance throughout COVID-19 remains robust
· Resilient COVID-19 operations - limited financial impact
· Cash collections for South West Water and Pennon Water Services remain robust
· No requirement for the use of regulatory or market support mechanisms
· 21,000 additional customers added to South West Water's dedicated COVID-19 priority services register
Resilient financial results following K7 revenue reset
· Results in line with management expectations
· WaterShare RORE[1] of c.8.0% driven by strong totex^ and financing outperformance
o £34 million totex efficiency delivered to date, maintaining momentum over K7
o 2.5% average effective interest rate^, significantly below Ofwat's 4.2% notional cost of debt
· £86.7 million Continuing Group underlying profit before tax^ (H1 2019/20 £101.4 million[2])
· 17.9p underlying earnings per share^ for the Continuing Group (H1 2019/20 20.1p2)Moderator Message:
Mistaken reference to 28.6p dividend deleted. -- MDW1954
https://www.investegate.co.uk/pennon-gr ... 00032552G/