Severn Trent Plc
Trading Update for the period 1 April to 18 July 2018
Severn Trent, one of the leading water and waste water companies in the UK, today provides a trading update for the period to 18 July 2018.
We continue to focus on the things that matter most to our customers and we are pleased to be in the upper quartile of Utility companies in the most recent UK Customer Service Index. We are on track with the £100 million reinvestment announced in May which will benefit our customers as we prepare for AMP7.
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.
As previously announced, we have taken a number of steps to ready ourselves for AMP7. From 1 April 2018, our Bioresources and Property Development businesses moved into the Business Services division. We will be reporting segmental results under both the old and the new structures, as part of our half year results presentation, on 22 November 2018. In addition, on 1 July 2018 we launched our Hafren Dyfrdwy business which will serve our Welsh customers, and is operating well under the new structure.
Overall, we have made a good start to the financial year and there has 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 we will bring our PR19 plan to life.
Enquiries
Investors & Analysts
Richard Eadie |
Severn Trent Plc |
+44 (0) 7889 806578 |
Head of Investor Relations |
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Rachel Martin |
Severn Trent Plc |
+44 (0) 7824 624011 |
Investor Relations Manager |
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Media
Press Office |
Severn Trent Plc |
+44 (0) 247 771 5640 |
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Jonathan Siburn |
Tulchan Communications |
+44 (0) 207 353 4200 |
Cautionary statement regarding forward-looking statements
This document contains statements that are, or may be deemed to be, 'forward-looking statements' with respect to Severn Trent's financial condition, results of operations and business and certain of Severn Trent's plans and objectives with respect to these items.
Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as 'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would', 'should', 'expects', 'believes', 'intends', 'plans', 'projects', 'potential', 'reasonably possible', 'targets', 'goal', 'estimates' or words with a similar meaning, and, in each case, their negative or other variations or comparable terminology. Any forward-looking statements in this document are based on Severn Trent's current expectations and, by their very nature, forward-looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance and no assurances can be given that the forward-looking statements in this document will be realised. There are a number of factors, many of which are beyond Severn Trent's control that could cause actual results, performance and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to: the Principal Risks disclosed in our latest Annual Report and Accounts (which have not been updated since the date of its publication); changes in the economies and markets in which the group operates; changes in the regulatory and competition frameworks in which the group operates; the impact of legal or other proceedings against or which affect the group; and changes in interest and exchange rates.
All written or verbal forward-looking statements, made in this document or made subsequently, which are attributable to Severn Trent or any other member of the group or persons acting on their behalf are expressly qualified in their entirety by the factors referred to above. No assurances can be given that the forward-looking statements in this document will be realised. This document speaks as at the date of publication. Save as required by applicable laws and regulations, Severn Trent does not intend to update any forward-looking statements and does not undertake any obligation to do so. Past performance of securities of Severn Trent Plc cannot be relied upon as a guide to the future performance of securities of Severn Trent Plc.
Nothing in this document should be regarded as a profits forecast.
This document is not an offer to sell, exchange or transfer any securities of Severn Trent Plc or any of its subsidiaries and is not soliciting an offer to purchase, exchange or transfer such securities in any jurisdiction. Securities may not be offered, sold or transferred in the United States absent registration or an applicable exemption from the registration requirements of the US Securities Act of 1933 (as amended).
