Drought order firm sees profits rise to £6.4 million

24-08-2006

Sutton & East Surrey Water, the first firm in England and Wales to introduce a drought order for a decade, increased profits last year from £5.3 million to £6.4 million.

The Deutsche Bank-owned firm, which serves 650,000 people in the south-east, saw turnover rise 15 per cent.

The water firm supplies parts of Kent as well as the London boroughs of Merton and Croydon.

Income rose 15 per cent. Pre-tax profits rose 21 per cent over the past year.

Sutton & East Surrey Water introduced a drought order in May, curbing water use for all non-essential purposes, after reporting the prospect of one of the severest droughts for decades.

Severn Trent, Thames, United Utilities among others have all reported strong profits in recent months after Ofwat said operators could increase charges if investments ensued.

Sutton & East Surrey Water said it had successfully met Ofwat's leakage targets.



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