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Businesses slowing down or going bust altogether is holding back revenues at Northumbrian Water Group.
But the listed group which also owns Essex & Suffolk Water is seeing profit overflow, up £10 million or nearly 13% to £87 million in the half year to the end of September, as interest rates on its £2.2 billion debt pile have come down.
Northumbrian has been told by Ofwat that it will be one of the companies allowed to hike prices. Its Essex and Suffolk customers live in statistically the driest part of Britain and are facing a 10% rise in their water bills, as the supplier builds projects including pipelines from Norfolk and an £150 million extension to the Abberton reservoir near Colchester.
The group interim dividend is rising 2% to 4.39p.
Reader views (1)
Why don't companies such as Northumbrian Water do something positive for their customers for a change.For example I know for a fact that say if only one or two people live in a house they would be much better off with a water meter installed.Also I get a reduction for paying my electricity bill promptly so why not for my water bill?
- Lesley, Northumberland, 23/11/2009 15:54
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