North West water and wastewater group United Utilities said it has made a strong start to its new five-year regulatory period.
Announcing half year results to September 30, today, the Warrington-based group reported a fall in revenues, from £935.5m to £894.4m, although pre-tax profits of £201.1m rose from £195.1m last year.
It said it has a strong balance sheet and A3 stable credit rating with Moody’s. Also, its pension schemes are fully funded on a low dependency basis. The customer debtor position and household cash collection remain strong, while household bad debt was stable in the first half at 1.8%.