United Utilities posts 24% hike in interim underlying profit before tax

United Utilities reported a near 24% hike underlying profits before tax for the half year to 30 September 2018 at £240.3m.

Reported pre tax profit was up 7% at 259.6m lifted by £21.7m decrease in finance costs. The underlying profit figure was net of a number of exceptional items including a £25m cost incurred during the dry weather in the summer.

That dry weather cost along with restructuring costs of £3.7m gave a £2.7m year-on-year fall in reported operating profit to £339.1m.

Revenue for the half year at £916.4m was up 4.6% on the previous year.