Profits pour in at Bristol Water


Profits pour in at Bristol Water
Bristol Water has reported pre-tax profits of £18.4 million, as a hefty 72 per cent rise in returns buoyed the bottom line.

The growth occurred despite a series of unforeseen expenses as a result of its recent restructuring, although the firm has stressed it will continue to look for further savings and tackle its debt.

The firm, which is part of the Bristol Water Group that was bought out by Sociedad General de Aguas de Barcelona, revealed it would be closing one of its laboratories and making redundancies as a result.

However, with profits after tax rising from £9.1 million in 2005 to £11.6 million, the chairman, Moger Woolley, sounded a positive note and said no more job cuts were in the pipeline.

Mr Woolley was also at pains to highlight the firm's success in improving its service.

"Levels of service to customers remain extremely high, as reflected in the Ofwat's assessment of levels of service and customer surveys," he said.

He added: "The company has met its Ofwat-approved leakage target in each year since targets were introduced."

Bristol Water says it has no plans to impose water restrictions and said it was pleased with its performance in this regard amid widespread publicity about drought conditions.

Related categories: Management / Business, Manufacturing / Industry.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

See also:

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure