United Utilities Reports Strong Half-Year Financial Results

United Utilities ( (UUGRY) ) has released its Q2 earnings. Here is a breakdown of the information United Utilities presented to its investors.

United Utilities, a leading water and wastewater services provider in the UK, has announced its half-year results for the period ending September 30, 2024. The company is distinguished by its commitment to environmental stewardship and customer service excellence in the utility sector.

In the latest earnings report, United Utilities highlighted a robust operational and financial performance. The company reported a 10.9% increase in revenue, reaching £1,082 million, and an underlying operating profit increase of 24%, amounting to £336 million. Despite the positive revenue growth, reported profit before tax saw a decrease due to higher finance expenses, although underlying profit before tax more than doubled compared to the previous year.

Key financial metrics reveal strong performance, with an interim dividend increase of 4.2% and a significant rise in underlying earnings per share. The company’s investment in infrastructure is reflected in a 25.6% increase in net regulatory capital expenditure. Additionally, United Utilities maintained a low gearing ratio of 60%, indicating solid financial stability and flexibility.

The company remains optimistic about the future, with plans to enhance infrastructure and environmental efforts. United Utilities is focused on reducing storm overflows and improving river quality, with ambitious targets set for 2030. The company is also committed to supporting economic growth in the North West, aligning its investments with governmental objectives.

Looking ahead, United Utilities aims to sustain its financial momentum and operational excellence. The management is preparing for the next regulatory period with strategic investment plans that promise to further strengthen the company’s position as a leader in the utility sector.