Welsh Water reports £25m pre-tax profit

Plug £1bn in Welsh Water service improvements pledged by 2015

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Dwr Cymru Welsh Water has reported pre-tax profits of £25m, compared to £34m last year.

The company said it invested £153m on capital projects in six months to September, up £40m on the same period last year.

Bob Ayling, chair of operator Glas Cymru, pledged continued improvements as part of a £1bn investment programme.

Welsh Water has been owned and managed by the not-for-profit company since 2001.

Mr Ayling said the company was on track to deliver over £300m in investment in the full year and £1bn in the three years to 2015.

Referring to the interim results, he said: "This continuous improvement is supported by an ambitious investment programme, underpinned by the strong financial position of our unique ownership model."

He highlighted key investments this year including £9m for a new service reservoir at Coed Dolwyd to provide emergency water storage for over 70,000 customers in the Llandudno and Colwyn Bay area.

And a £4m project at Britton Ferry to reduce the "longstanding, serious threat of sewer flooding to the community".

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