Severn Trent hit by 'slowing economy'

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Water company Severn Trent has said it expects better second-half results after being hit by a slowing economy in the first half.

The company, which had in November blamed difficult economic conditions for a lackluster performance at its water services unit, said it did not expect a significant improvement before the start of the next financial year.

In its trading update today Severn Trent said consumption levels were expected to drop year-on-year, in line with trends seen in the first half, and that trading across the group was in line with its views.