South West Water profits rose 3.3% to £167.9 million, according to the preliminary financial results published by owners Pennon's Group this morning.
Pennon Group Chairman Ken Harvey said:
“The Group has delivered a resilient set of results for 2014/15. South West Water’s EBITDA was higher than last year despite the tariff freeze, thanks to a strong focus on cost efficiency, and as expected Viridor’s EBITDA exceeded last year.
Viridor has made excellent progress in its Energy business bringing five new Energy Recovery Facilities on stream in the year. Pennon is well positioned to continue to deliver profitable growth and consistent, sustainable cash returns to shareholders.
In March Pennon's Board announced the continuation of the current dividend policy, targeting 4% year-on-year growth above RPI inflation to 2020.
South West Water revenues rose +0.1% to £331.3m, despite the 2014/15 tariff freeze - attributed to continued cost efficiency.
The Group also issued 20.9m Pennon shares to finance £100.3m cash consideration for Bournemouth Water via a successful equity placing after the year end.
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.