Anglian Water pre-tax loss falls 75%
by Trevor Loveday
Anglian Water’s underlying loss before tax for the year to 31 March 2024 fell 75% year-on-year to £71.7m excluding fair value gains on derivatives.
Fair value gains on derivatives were down 68% to £205m to leave reported income pre-tax profit down 63% at £133m. Revenue for the reporting period was up 10% to £1,529m, generated by price increases and offset by £12m in vulnerable customer discounts; a £5.8m fall in demand attributed to a cooler and wetter summer; and a 32.2M lifting business income.
Operating profit was up a tick to £431m with operating costs up 16% to £823m due largely to energy cost increases and inflation.
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