Severn Trent ups pre tax earnings 20%

Severn Trent Water reported a 20% hike in profit before tax to £201.3m for the year to 31 March 2024.

Turnover increased 8% year-on-year to £2.34bn, with operating costs up £170m to £1.82bn. Net finance costs were down 22% to £281.5m. 

The company’s share of losses in its water retail joint venture with United Utilities, Water Plus, was £4.1m.