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LONDON - Northumbrian Water Limited (NWL) announced an increase in operating profit to £290.9 million for the financial year ended March 31, 2025, up from £233.2 million in the previous year, according to its Annual Performance Report published Tuesday.
Revenue rose by £98.3 million to £1,017.2 million, which included a 3.5% CPIH inflation increase on wholesale revenue. Operating costs increased by £40.6 million to £726.3 million, primarily due to higher employment costs, increased Environment Agency charges, and greater depreciation from capital investments.
The company reported profit before tax of £113.7 million and profit after tax of £84.3 million. Net finance charges decreased by £33 million to £177.2 million as inflation’s impact on index-linked borrowings reduced.
NWL invested over £600 million in its assets during the year, with more than £300 million allocated to maintaining asset health. The company completed most of its enhancement commitments for the 2020-25 price review period and began early work on its 2025-30 capital program, which is expected to be more than twice the size of the previous five-year investment program.
To support its funding requirements, NWL raised new debt including two £50 million bond taps in March 2025 and a £90 million private placement after the balance sheet date. The company maintains investment grade credit ratings of Baa1 from Moody’s and BBB+ from Fitch Ratings, both with negative outlooks due to uncertainty around the Competition and Markets Authority redetermination process.
The company reported no category 1 or 2 pollution incidents for the third consecutive year and achieved regulatory commitments for leakage reduction in both its operating regions. NWL also noted it ranked first in the industry for customer service while maintaining the lowest average bills in the sector.
The information in this article is based on the company’s press release statement.
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