Southern customers consumption hits record low as bill cuts shave profits

August 4, 2016

Southern Water customers' water consumption hit a record low in 2015-16 according to figures from its annual report for the year to 31 March 2016.

 

Southern's two million customers' average consumption doing the year was 130l/day. the national average is 150 l/day. The company said the improvement was the result of its users being better informed.

 

A spokesman for the firm said metered supply had played a part in reducing consumption. Southern has installed 450,000 meters in households. "Small changes at home have made a big difference. When you’re paying for what you use, this means real, tangible savings,” said Southern's water efficiency manager, Ben Earl.

 

Southern reported a near 4% decrease in average bills for the report year to which it attributed a 3% fall in revenues to £803.7 m. Lower revenue and increased operating costs including an £8m increase in employee costs from the previous year at £93.1m took operating profit down year on year by 14% at £284.5m.

 

Fair value losses on derivative financial instruments  were reported under revised International Financial Reporting Standards adopted by Southern for the first time. Those losses were down £60m from the previous year (adjusted) boosting reported profits before tax £18m to £128m.

Please reload

Featured Posts

MOSL has reported overall improvement in how well trading parties are performing against business retail market Market Performance Standards and Opera...

Leaders stay at top of MOSL league tables as sector shows improvement

November 10, 2019

1/3
Please reload

More from this week
Please reload

Archive