Severn Trent PLC – Trading Update

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.

 

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