Business

Northumbrian Water profits boosted by higher rates

Water tap
Image caption Northumbrian said it had no plans for water restrictions

Northumbrian Water has reported a rise in full-year profits, due in part to higher water and sewerage charges.

Pre-tax profits for the year to the end of March were £181m, up 6.3% on the £170.2m the group made a year earlier and slightly above analysts' forecasts. Revenue rose 4.7% to £738.1m.

Revenue was boosted by a 5.3% rise in water and waste charges.

The company said its water resources were "good" and there were no plans for any restrictions.

"The group continues to produce strong financial and operational results and has funding in place to meet our requirements for the next three years," said chief executive Heidi Mottram.

"We expect to perform well against our regulatory and contractual targets over the next four years."

Northumbrian Water provides services to more than 4 million people in the both the north-east and south-east of England.

It provides water and sewerage services to 2.6 million people in the north-east of England, and water services to 1.8 million in the south-east of England where it trades as Essex & Suffolk Water.

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