September 26, 2017 / 6:28 AM / 2 years ago

United Utilities sees higher first-half profit, revenue

(Reuters) - United Utilities Group Plc (UU.L) said it expects underlying operating profit and revenue for the first half of the year to be higher, helped by regulatory changes.

The water utility, which supplies and treats water in north-western UK, forecast revenue to rise just under 3 percent in the six months ending Sept. 30.

United Utilities also said it expects total regulatory capital investment to be about 800 million pounds, compared with the 804 million pounds it spent last year.

Britain’s water regulator, OFWAT, uses incentives to push companies to better their operational performance and save costs.

United Utilities said it expects infrastructure renewals expenditure (IRE) in the first half to be slightly lower than the same period last year, and an increase in IRE in the second half of 2017/18 from the first half.

The company also sees group net debt as of Sept. 30 rising slightly from the 6.58 billion pounds it reported at end-March, as it continues to invest in its asset base.

Reporting by Sanjeeban Sarkar and Arathy S Nair in Bengaluru; Editing by Sunil Nair

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