Pennon Group PLC Depositary Receipt (PEGRY)
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Water companies pick up as Ofwat mulls "recovery" regime
Water shares improved on reports that regulator Ofwat wants debt-laden utilities to have potential fines for sewage dumping reduced to allow time for them to “recover”. According to the reports, Ofwat intends to draw up a regime to enable water companies that need a major financial restructuring such as Thames Water to keep going but under tighter regulatory scrutiny.
Here's why Pennon Group, United Utilities, Severn Trent stocks slumped
British utility companies' stocks continued their freefall this week as concerns about their margins escalated. Pennon Group's (LON: PNN) share price tumbled for four straight days and reached its lowest swing since October last year.
Water firms seek to raise bills up to 91% despite rampant sewage dumping
Sewage pollution controversies and contentious shareholder payouts have not stopped privatised water companies across England and Wales from lobbying for sweeping bill increases in the coming years. According to the BBC, Southern Water is asking the Consumer Council for Water (CCW, which is a sub-department of Defra), to allow a 91% increase in bills over the next five years.
Water firms seek to raise bills up to 91% despite rampant sewage dumping
Sewage pollution controversies and contentious shareholder payouts have not stopped privatised water companies across England and Wales from lobbying for sweeping bill increases in the coming years. According to the BBC, Southern Water is asking the Consumer Council for Water (CCW, which is a sub-department of Defra), to allow a 91% increase in bills over the next five years.
‘No positives' in Pennon results as shareholders flag dividend worries
South West Water owner Pennon Group PLC (LSE:PNN, OTC:PEGRY) offered “no positives” in its annual earning statement today, said analysts at UBS. Underlying earnings came below UBS estimates of £171 million and the company-compiled consensus of £174 million.
‘No positives' in Pennon results as shareholders flag dividend worries
South West Water owner Pennon Group PLC (LSE:PNN, OTC:PEGRY) offered “no positives” in its annual earning statement today, said analysts at UBS. Underlying earnings came below UBS estimates of £171 million and the company-compiled consensus of £174 million.
U.K. water supplier Pennon sees bigger losses, smaller dividends — and one parasitic water bug
British water utility Pennon said it was “working tirelessly around the clock” to fix a contaminated water incident in the county of Devon as it revealed bigger annual losses and a higher net debt, while announcing it is trimming its dividend to reflect a fine for sewage dumping.
South West Water owner cuts dividend in face of pollution offences
South West Water's parent company Pennon Group PLC (LSE:PNN, OTC:PEGRY) navigated a series of widely publicised water offences in its Devon and Cornwall treatment areas in today's annual earnings report with a multimillion-pound dividend reduction. In March 2023, regulator Ofwat announced new powers to stop water companies from declaring dividends if they would risk the company's financial resilience.
Pennon apologises for Devon diarrhoea outbreak as finals loom
South West Water owner Pennon has apologised for the outbreak of diarrhoea in Brixham, which has affected at least 22 people. Pennon chief executive Susan Davy said the company had “fallen significantly short”.
