November 20, 2019 / 7:33 AM / a month ago

UK's United Utilities profit gains on regulatory incentives

Nov 20 (Reuters) - British water supplier United Utilities Group Plc reported a 6.5% rise in first-half underlying earnings on Wednesday, driven by target-based incentives from regulator Ofwat and lower infrastructure-related costs.

United Utilities, which faces a threat of re-nationalisation, said underlying operating profit rose to 391.7 million pounds ($505.84 million) for the six months ended Sept. 30, compared with 367.8 million pounds a year earlier.

$1 = 0.7744 pounds Reporting by Safia Infant; editing by Uttaresh.V

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