Wednesday, November 25, 2009
United Utilities Profit Rebounds, Dividend Lifted
By Simon Kennedy
MarketWatch Pulse
LONDON -- United Utilities said Wednesday that its net profit for the six months ended Sept. 30 rebounded to 198.1 million pounds ($328.4 million) from 4.4 million pounds, following a big deferred tax charge in the year-earlier period. Revenue for the half-year rose 0.5% to 1.21 billion pounds. The group said underlying pretax profit rose 1.1% to 369.9 million pounds, reflecting price increases allowed by the regulator, which were partly offset by reduced demand and ongoing cost pressures. The group said it has increased its interim dividend by 5% to 11.17 pence a share.
Copyright © 2009 MarketWatch, Inc.
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