Severn Trent PLC Trading Update for the period 1 April - 17 July 19 (7512F)
17 Luglio 2019 - 08:00AM
UK Regulatory
TIDMSVT
RNS Number : 7512F
Severn Trent PLC
17 July 2019
Severn Trent Plc
Trading Update for the period 1 April to 17 July 2019
Severn Trent Plc, a leading water and wastewater company in the
UK, today announces a trading update for the period to 17 July
2019.
Financials on track
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 2018/19 results
presentation on 21 May 2019. The Board continues to expect that the
Group will deliver full-year trading performance in-line with its
expectations and prior guidance.
Momentum continues
-- Customer - We remain on track to deliver at least GBP25
million in customer ODI outperformance payments this year, with our
customers seeing continued improvement in the areas that matter
most to them. We are progressing well with key end of AMP ODIs,
with Water Framework Directive schemes set to deliver 1,600km of
improvements to rivers in AMP6.
-- Energy self-generation - In the first three months of the
fiscal year we have generated 123Gwh from our own renewable
sources, equivalent to 52% of our energy needs, positioning us on
the right run rate to exceed our 50% target for the year. This is
an important step in our triple carbon pledge for 2030, 20 years
ahead of the recent government commitment.
-- AMP7 capital delivery strategy - Earlier this month, we
announced further supplier partnerships for our AMP7 capital
programme, and have now recruited around 50% of our in-house
capital design team, ready for a fast start to AMP7.
-- Supply resilience - Our raw water resources are in a healthy
position as we head into the summer period, with our overall
storage around 10% higher than the same time last year.
PR19
We expect Ofwat to publish a PR19 update, including the draft
determination for Hafren Dyfrdwy, on 18 July. We will provide a
further announcement to the market as appropriate.
Enquiries
Investors & Analysts
Richard Eadie Severn Trent Plc +44 (0) 7889 806578
Head of Investor Relations
Rachel Martin Severn Trent Plc +44 (0) 7824 624011
Investor Relations Manager
Media
Press Office Severn Trent Plc +44 (0) 247 771 5640
Jonathan Siburn Tulchan Communications +44 (0) 207 353 4200
Cautionary statement regarding forward-looking statements
This document contains statements that are, or may be deemed to
be, 'forward-looking statements' with respect to Severn Trent's
financial condition, results of operations and business and certain
of Severn Trent's plans and objectives with respect to these
items.
Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words as
'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would',
'should', 'expects', 'believes', 'intends', 'plans', 'projects',
'potential', 'reasonably possible', 'targets', 'goal', 'estimates'
or words with a similar meaning, and, in each case, their negative
or other variations or comparable terminology. Any forward-looking
statements in this document are based on Severn Trent's current
expectations and, by their very nature, forward-looking statements
are inherently unpredictable, speculative and involve risk and
uncertainty because they relate to events and depend on
circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future
performance and no assurances can be given that the forward-looking
statements in this document will be realised. There are a number of
factors, many of which are beyond Severn Trent's control that could
cause actual results, performance and developments to differ
materially from those expressed or implied by these forward-looking
statements. These factors include, but are not limited to: the
Principal Risks disclosed in our latest Annual Report and Accounts
(which have not been updated since the date of its publication);
changes in the economies and markets in which the group operates;
changes in the regulatory and competition frameworks in which the
group operates; the impact of legal or other proceedings against or
which affect the group; and changes in interest and exchange
rates.
All written or verbal forward-looking statements, made in this
document or made subsequently, which are attributable to Severn
Trent or any other member of the group or persons acting on their
behalf are expressly qualified in their entirety by the factors
referred to above. No assurances can be given that the
forward-looking statements in this document will be realised. This
document speaks as at the date of publication. Save as required by
applicable laws and regulations, Severn Trent does not intend to
update any forward-looking statements and does not undertake any
obligation to do so. Past performance of securities of Severn Trent
Plc cannot be relied upon as a guide to the future performance of
securities of Severn Trent Plc.
Nothing in this document should be regarded as a profits
forecast.
This document is not an offer to sell, exchange or transfer any
securities of Severn Trent Plc or any of its subsidiaries and is
not soliciting an offer to purchase, exchange or transfer such
securities in any jurisdiction. Securities may not be offered, sold
or transferred in the United States absent registration or an
applicable exemption from the registration requirements of the US
Securities Act of 1933 (as amended).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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