The latest Trading Update for Severn Trent Water for the period 1 April 2015 to 14 July 2015 says the firm is continuing to make "very good progress" on delivering efficiency savings and has made a good start to its AMP6 capital programme.
Wholesale Totex (total expenditure) is expected to be £1,030 million to £1,060 million for the full year 2015/16. Operating costs under IFRS are expected to be lower year on year due to the impact of the previously announced organisational changes and the supply chain efficiencies.
Estimated net capital expenditure will be £410 million to £430 million and the Board also expects a further £125 million to £135 million of net infrastructure renewals expenditure.
The Update says the Board continues to expect growth in Business Services revenues and PBIT year on year.
There has been no material change to business performance or outlook since the Preliminary Results on 22 May 2015 and the Severn Trent Board says the Group will deliver trading performance consistent with its expectations.
The dividend is set to be 80.66p for 2015/16.
Severn Trent Plc will announce its Interim results for the period ending 30 September 2015 on 26 November 2015.
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