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SW Water

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Message 1 - posted by stevoplymouth, Nov 29, 2007

South West Water has announced an increase in operating profit of 15.2 per cent to 97million in its latest financial results.

The firm's parent company, the Pennon Group Plc, posted its latest results on the Stock Exchange this morning.

Overall, the company's operating profits are up 17 per cent to 123.6million, with another subsidiary, the profit at the waste business Viridor up 24.3 per cent to 27.1million. The figures cover the six months to September 30.

South West Water's turnover rose by 19.1million to 215million.

It said that increases in charges had yielded additional income of 26.8million.

Increasing numbers of customers are switching to water metres, causing a reduction of 5.4million in turnover for the firm.

It said that a decrease in demand because of the wet summer had reduced turnover by 4.6million.

The Pennon group's chairman, Ken Harvey said: "We are delivering the benefits from our strategy of focusing on our two key businesses, South West Water and Viridor. South West Water remains on target to meet the PR04 regulatory contract and Viridor continues to deliver a very strong performance based on both organic growth and sound acquisitions."

Taken from todays Plymouth Evening Herald.

I am no longer paying my water bill!
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Message 2 - posted by TheLocalYokel, Dec 1, 2007

Water companies are cash cows for the owners.

They have a complete monopoly in their area and the regulator is weak, allowing inflation-busting price increases year on year.

Unlike electricity or gas, customers do not have a choice of provider.

The water companies then have the cheek to complain about customers wasting water whilst they allow millions of gallons to leak each year because they are too busy building up profits to maintain the systems properly.

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