United Utilities Group PLC (UU.L, UUGRY.PK) announced on Thursday a 12.1% decline in its profit before tax for the first half, dropping to £140.6 million from £160.0 million in the previous year. Earnings per share also fell by 11.7%, now standing at 15.1 pence compared to last year's 17.1 pence.
On an adjusted basis, underlying profit before tax more than doubled to £182.9 million from £90.3 million the prior year. Similarly, underlying earnings per share saw an increase, reaching 26.8 pence, up from 13.2 pence the year before.
The company reported an underlying operating profit surge of 23.8% year-on-year, totaling £335.7 million. Revenue for the first half rose by 10.9%, amounting to £1.08 billion, up from £975.4 million in the previous year.
Additionally, United Utilities declared an interim dividend of 17.28 pence per share, marking an increase of 4.2% from last year’s 16.59 pence.
Looking forward to fiscal 2025, United Utilities expects revenue growth of approximately 10%. This forecast is supported by the inflationary mechanism and adjustments related to consumption from prior periods.
