Thames Water has announced a 5.5% rise in operating profits with the publication of its financial results for the six months to 30 September 2014.
Post-tax profits fell to £133.6m (2013: £233.6m), as a result of a higher tax charge. The firm also paid a reduced dividend of £20m (2013: £128.5m).
The water company said it remains on track to deliver total investment £5.6bn between 2010-15, with a record £1.4 billion total investment in our infrastructure planned for the final year of AMP5 – by far the highest of any water company. During the period Thames has completed the £190m upgrade of Beckton sewage works and tunnelling stage of the Lee Tunnel. The utility has also started the competitive process to secure private investment for the Thames Tideway Tunnel which received which has now been granted a Development Consent Order.
Bills remain the third lowest amongst water and sewerage companies – around £40 below the industry average.
For the eighth successive year Thames is continuing to outperform on regulatory targets for leakage reduction - leakage is down by a third since 2004.
Commenting on the results, Martin Baggs, chief executive of Thames Water, said:
“Our firm commitment and hard work to improve service to our customers continues to pay off, with satisfaction scores up and written complaints down.
“We continue to improve our ageing infrastructure to make it fit for the future, thanks to our sustained, record breaking levels of investment. We have achieved this while also maintaining one of the lowest water bills in England and Wales. The required investment, including the essential Thames Tideway Tunnel, will mean a gradual increase in bills over time but, in general, the strong message from our customers is they recognise this is essential work.
“Over the six-month period to 30 September we have delivered a steady financial performance, in-line with our expectations. We’re also firmly committed to being straightforward and transparent in how we achieve this – which is why we have published a document called Our Finances Explained on our website.”
With the UK government demanding a 50% reduction in storm overflow spills by 2029, the era of reactive management is over. Speaking in the House of Commons on 21 July 2025, then environment secretary Steve Reed said, “This Government will cut water companies’ sewage pollution in half by the end of the decade.”
ERG, the leading supplier of odour control systems and industrial gas cleaning & thermal systems, has been awarded the coveted King’s Award for Enterprise.
Welsh Water’s new artificial intelligence-driven tool, ORAI, has been shortlisted for three categories at the prestigious British Data Awards 2026 – underscoring the company’s commitment to using cutting-edge technology to deliver better outcome for customers.
Barhale has completed work on two separate Rapid Action Taskforce Spills projects it is carrying out for Severn Trent.
Hear how Scottish Water has completed its £235 million Ayrshire Glasgow Resilience Project - customers across Greater Glasgow, Ayrshire and East Renfrewshire will now benefit from a more secure and resilient water supply.
Hear how United Utilities is accelerating its investment to reduce spills from storm overflows across the Northwest.
Find out more about the remarkable career opportunities on offer at WSP - scroll down to watch the inspirational video.