Pennon forecasts 11.8% return on equity in year-end trading statement

Pennon Group has forecast an 11.8% return on regulated equity for its South West Water subsidiary in a trading statement ahead of its full year report to 31 March 2018. It said the group’s underlying financial performance was “in line with expectations.”

Pennon said South West was “well positioned to respond and deliver outstanding services to customers” in the next price control period.

It said its business water retail arm, Pennon Water Services had been placed among the top four performers in the new market by independent consultant, Brodick, based on size and growth. It highlighted a nu has also won a number of national contracts won in recent months including Rolls Royce, BMI Healthcare, Unite Students and Kerry Foods.