SES Water ups income as costs fall

SES Water reported a £1.3m year-on-year increase in profit before tax, boosted by falls in interest charges and pension costs, to £10.2m for the 12 months to 31 March 2020 .

Revenue for the period ticked up £1.5m to £69.8 million. A £2m increase in household revenue along with a £1.2m rise in wholesale revenue from the non-household market was offset by a £1.7m fall in non-water revenue.

Operating costs were down £0.7m to £49.5m including depreciation and amortisation up £0.5m to £10.2m. Capital investment for the year was up more than £10m to £35.6 million.

SES Water reported operational performance highlights including

  • achieving its leakage reduction target for the 21st successive year; and

  • reducing demand by fitting more than 8,000 new water meters during the year.