Severn Trent, one of the leading water and waste water companies in the UK, has published a a trading update for the period to 18 July 2018.

The company said it is continuing to focus on the “things that matter most” to customers – Severn Trent is in the upper quartile of Utility companies in the most recent UK Customer Service Index. The update said the firm is on track with the £100 million reinvestment announced in May this year, commenting:

“Our business plan for AMP7 is progressing well and we are confident we can present a plan this coming September which balances the needs of all of our stakeholders for the next regulatory period. We remain supportive of Ofwat's approach and welcomed the recent decisions on the 'Putting the sector back in balance' consultation.”

Severn Trent has already taken a number of steps to ready itself for AMP7. From 1 April 2018, its Bioresources and Property Development businesses moved into the Business Services division. The company will be reporting segmental results under both the old and the new structures, as part of iis forthcoming half year results presentation in November In addition, on 1 July 2018 Severn Trent launched its Hafren Dyfrdwy business to serve its Welsh customers which is operating well under the new structure.

The water company said that overall it had made a good start to the financial year and there had been no material change to current year business performance or outlook since the full-year 2017/18 results presentation on 23 May 2018.

The Board continues to expect that the Group will deliver full-year trading performance in-line with its expectations and prior guidance.

Severn Trent will be hosting a Capital Markets Day on 14 September 2018 where it will set out details of its PR19 business plan.