Down today (ex big div) but severn trent seem to have an almost perfect large inverse H&S beginning in mid Jul and completing last week. 680ish is going to be an interesting level either way.

have you seen the buys going on today

kissy kissy.

rampers :-)

Can't believe Ruth hasn't looked in having read the thread title :-)

She will, skinny, she will.

(She won't be long in following Dil ;-)

She has probably read the thread, but can't think of a reply. You know how shy and tongue tied she is!

Looking a bit flacid today!

Taken a small long in these @10

Ofwat ruling tomorrow. Doesn't look good for the companies but the question is whether the market will take the view that it's priced in with the sector underperforming the rest of the market by about 30% this year. I've been heavily long in SVT of late but not running any into the ruling.

Kyoto - I'm hoping for the latter - but I haven't picked the best entry point it seems!

on edit : I still can't believe that the thread title hasn't lured Ruth in!

The reporting on this is quite shoddy this morning - here is the OFWAT document for the full facts and figures:

http://www.ofwat.gov.uk/pricereview/pr09phase3/det_pr09_finalfull.pdf

0752 GMT [Dow Jones] The UK water regulator's decision to keep water prices mostly unchanged in the period from 2010-2015 against expectations of a decrease in bills is seen as positive for water companies Pennon (PNN.LN), United Utilities (UU.LN), Severn Trent (SVT.LN) and Northumbrian Water (NWG.LN) as Ofwat , says Lakis Athanasiou of Evolution Securities. (SWI)

Closed half +56

Congratulations Skinny.

Lol only just seen this thread, ;-)
size isnt everything guys, trust me,but how did you know a headline like that would grab my attention;-)

Anyway well done Skinny,;-)

Just closed the other half 1070 +70 - that's Christmas & New year sorted :-)

Well done Skinny,

Bought a few of these again this morning.

Final Results.

31 March 31 March Increase/
2010 2009 (decrease)

m m %

Group turnover 1,703.9 1,642.2 3.8%

Underlying group PBIT1 557.1 469.9 18.6%

Underlying group profit 338.4 273.5 23.7%
before tax2

Profit before tax3 334.4 167.6 99.5%

pence/share pence/share

Adjusted basic eps4 122.8 92.7 32.5%

Basic earnings/(loss) per 105.6 (24.61) 529%
share5

Total ordinary dividends 72.32 67.34 7.4%

Just closed these +1 :-)

Marvellous!
Does that mean you think it's a short then? :-)

Not really - it just seemed rude not to take it :-)

Hmmm - 12 month high - ex dividend 16th July.

Nearly a quid for September so far!

yes indeed skinners, and fast approaching a congested area - should be some resistance around 14

Interim Management Statement.

A bit of blue today - ex dividend in a couple of weeks.

RNS Number : 6897K

Severn Trent PLC

20 July 2011

20 July 2011

Severn Trent Plc Interim Management Statement

for the period 1 April to 19 July 2011

The Board of Severn Trent Plc confirms that trading across the group has been in line with its expectations and prior guidance. No new material trading events or transactions have occurred during the period 1 April to 19 July 2011.

Customer prices in Severn Trent Water increased by 4.7% (including inflation) from 1 April 2011. Consumption across our measured income base has declined year on year in the period, although at a lower rate than expected.

We continue to target a bad debt level of 2.2% of turnover for the full year, although we continue to monitor future developments closely, especially unemployment levels.

Operating expenditure continues to be in line with the Board's expectations for the year. Operating costs are expected to rise year on year, due to the impact of inflation, rising input costs and quasi taxes, offset by efficiency savings.

Expectations for net capital expenditure (UK GAAP after deducting grants and contributions) remain in the range GBP450 million to GBP470 million. The level of net infrastructure renewals expenditure included in this figure is anticipated to be GBP120 million to GBP130 million.

For the full year, Severn Trent Services is expected to deliver increased revenue growth, although revenues are expected to be lower period on period in the first 6 months. Due to planned investment in growth opportunities in Operating Services and new water purification products (BalPure and MicroDynamics) which will offset growth in the underlying business, PBIT is still expected to be lower year on year.

Based on current RPI expectations, group interest charge is expected to be broadly flat year on year, before adjustments related to pension accounting.

The expected effective current tax rate for the group for 2011/12 remains at 26% to 27%.

Severn Trent Plc will announce its interim results for the period ending 30 September 2011 on 24 November 2011.

New high today.

Half Yearly Report.

Interim Results for the six months to 30 September 2011


Highlights

● Severn Trent Water operating expenditure below level allowed in Ofwat's Final Determination

● Delivering capital programme and long term productivity improvements

● Interim dividend 28.04 pence per share, up 7.7% in line with dividend policy of RPI +3%

● Strong balance sheet, business fully funded for next 2 years

● Transfer of private drains and sewers (PDaS) successfully completed on 1st October

● Encouraged by direction of regulatory reform

Ex-divi 30th Nov '11 (28.04p)

Time to dust these down again.

Recent upgrade 10th Jan HSBC overweight TP 1740.
IMS on 17th February. Yield 4.2%

Tender Offer.

CASH TENDER OFFER

SEVERN TRENT UTILITIES FINANCE PLC ANNOUNCES A CASH TENDER OFFER IN RESPECT OF ITS £200,000,000 5.25 PER CENT. NOTES DUE 2014 (ISIN XS0176529583)

Severn Trent Utilities Finance Plc (formerly Severn Trent Water Utilities Finance Plc) (the Offeror) today announces an invitation, subject to certain offer restrictions, to eligible holders (the Noteholders) of its £200,000,000 5.25 per cent. Notes due 2014 (ISIN XS0176529583) (the Notes) to tender any and all such Notes for purchase by the Offeror for cash, as further described below (the Offer).

The full terms and conditions of the Offer are set out in a Tender Offer Memorandum dated 17 January 2012 (the Tender Offer Memorandum), which is available to Noteholders from Lucid Issuer Services Limited at the details set out below. Participation in the Offer is entirely voluntary and within the discretion of each Noteholder. Capitalised terms used and not otherwise defined in this announcement have the meaning given to them in the Tender Offer Memorandum.

Rationale for the Offer
The purpose of the Offer is to manage the Offeror's debt maturity profile. Any Notes purchased by the Offeror pursuant to the Offer will be cancelled and will not be reissued or resold.

Interim Management Statement.

17 February 2012

Severn Trent Plc Interim Management Statement

for the period 1 October 2011 to 16 February 2012

The Board of Severn Trent Plc confirms that trading across the group has been in line with its expectations. No new material trading events or transactions have occurred during the period 1 October 2011 to 16 February 2012.

Severn Trent Water

Consumption levels across our measured income base for FY 2011/12 are expected to lower year on year, in line with the trend seen in the first half.

The level of bad debt for the full year is expected to remain broadly stable compared with the first six months, although we continue to monitor future developments closely, especially unemployment levels.

Operating expenditure continues to be in line with the Board's expectations for the year, and below the level allowed in the Final Determination. Operating costs are expected to rise year on year, due to the impact of inflation, prudent investment in our networks, and quasi taxes (including the CRC levy), partially offset by efficiency savings.

Expectations for net capital expenditure (UK GAAP after deducting grants and contributions) remain in the range GBP450 million to GBP470 million. The level of net infrastructure renewals expenditure included in this figure is anticipated to be GBP120 million to GBP130 million. Both figures exclude the costs of Private Drains and Sewers (PDaS).

Severn Trent Water is not currently predicting any usage restrictions this year, despite record low rainfall over the winter period. This situation remains under constant review however and the company is taking steps to improve supply resilience this year. Severn Trent Water has maintained its focus on continuous improvement and is on course to meet its 2011/12 leakage target. Severn Trent Water is one of only 3 companies that is targeting reduced leakage year on year over the current regulatory period.

Work volumes related to Private Drains and Sewers continues to be at the lower end of initial expectations. The company will provide FY 2011/12 costs, and updated capital and operational expenditure estimates for the remainder of the current regulatory period, with its Preliminary Results in May.

Severn Trent Services

Severn Trent Services is expected to deliver an improved second half performance, compared to the first half, in line with prior guidance. However, markets remain challenging, with no significant upturn expected before the start of the next financial year.

Group

The group completed a successful GBP250m 30 year bond issue in January, at a coupon of 4.875%, and simultaneously a tender offer for its 2014 GBP200m bond, which saw an uptake of 75% or GBP151m. The costs of the tender offer will give rise to an exceptional finance charge of GBP16m for FY2011/12, representing the difference between the purchase price and the carrying value of the bond.

The expected effective current tax rate for the group for FY 2011/12 remains at 26% to 27%.

Severn Trent Plc will announce its preliminary results for the financial year ending 31

March 2012 on 30 May.

On a bit of a run this month.

From the 10th.

http://www.bbc.co.uk/news/uk-17664051


Severn Trent says plans are being drawn up to sell water to Anglian Water, one of the firms which has imposed a hosepipe ban.

Pumping from boreholes, Severn Trent plans to shift 30 million litres of water a day from sources beneath Birmingham into the River Tame, which joins the Trent.

Severn Trent's David Essex told the BBC's Daniel Boettcher that it is the first time such a scheme has been carried out in recent history.

Preliminary Announcement of Annual Results.

Highlights

● Maintaining the lowest combined water and waste water bills for our customers

● No usage restrictions in the Severn Trent Water region forecast for this year

● Leakage reduced by 7% year on year to a record low level, and below Ofwat target

● Severn Trent Water operating expenditure below level assumed in Ofwat's Final Determination

● Additional investment of £150 million in Severn Trent Water's networks over the next 3 years to enhance security and resilience for our customers, on top of £1.6 billion previously planned

● Proposed capital return of £150 million to shareholders maintains an efficient and sustainable balance sheet with a strong investment grade credit rating

Over a quid of dividend to come - ex date 20th June.

New highs today @1750p

And again today @1782.

Just sold @1795 - they have almost risen by the £1 dividend.

I was very tempted to buy back this afternoon, but will look again next week.

Ex dividend tomorrow for £1.056.

Big divi today or large capital gain later (probably in time), decisions decisions?

Skinny you a fan of these, can you remember how long the share price usually takes to recover after ex. divi off hand?

Stan - This is different because of the 'special' dividend payment. I've taken the option to sell (see post 41 above) so am probably going to wait to buy back - but that's purely me - but (caveat) I may change my mind this afternoon :-)

Also if you look at the chart, these have been in an uptrend since the start of 2010.

OK thanks, more to think about on this one then for me.

Skinny did you get some in the end? I did, couldn't resist such a large divi. in a defensive like SYT. Hoping for a not to long recovery in SP as well.

Stan, I don't know where my post from last evening has gone in reply. But No, I didn't in the end, the low being 1743 - I will buy back at some point.

Severn Trent Plc

Publication of Prospectus

The following prospectus (the "Prospectus") has been approved by the UK Listing Authority and is available for viewing:

Prospectus dated 19 June 2012 relating to a €4,000,000,000 Euro Medium Term Note Programme of Severn Trent Plc, Severn Trent Utilities Finance Plc and Severn Trent European Placement S.A. as issuers and Severn Trent Water Limited as guarantor of notes issued under the programme (the "Notes") by Severn Trent Utilities Finance Plc and Severn Trent Plc as guarantor of Notes issued by Severn Trent European Placement S.A.

To view the full document, please paste the following URL into the address bar of your browser:
http://www.rns-pdf.londonstockexchange.com/rns/7692F_1-2012-6-20.pdf
A copy of the above Prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at
www.morningstar.co.uk/uk/NSM

SEVERN TRENT PLC LAUNCHES RPI LINKED 10 YEAR STERLING RETAIL BOND

Severn Trent Plc ("Severn Trent") has today launched an RPI linked 10 year Sterling bond available to retail investors.

The bonds will pay interest semi-annually at a real rate of interest of 1.3% per annum adjusted to take account of changes in the level of the UK Retail Prices Index ("RPI"). On maturity, the amount due to be repaid will be the full face value of the bonds, adjusted to take account of any overall increase in the RPI. However on maturity, even if there is an overall fall in the RPI, Severn Trent will be required to repay the bonds at no less than their full face value.

Given water companies habit of loosing large quantities of our water, who would be so silly as to trust them with our money? especially with such a pathetic return as well.

I guess it must appeal to some investors.

Re Joint Venture

Severn Trent and Costain Announce New Joint Venture

Severn Trent Plc and Costain Group PLC have entered into a new Joint Venture ('JV') to provide complete business water and wastewater management services to high volume commercial and industrial water users.

The new entity, Severn Trent Costain, will combine the skills and experience of both Severn Trent Services and engineering solutions provider, Costain, to offer large multi-site water users a single expert supplier for all of their water and waste water requirements, from source to disposal. With a cohesive approach to water management Severn Trent Costain will help customers improve efficiencies, leverage cost savings, manage legal compliance and risk management issues, and resolve water efficiency challenges.

The UK water supply market is undergoing significant change as Government legislation drives increased business retail competition in the competitive UK water market. Severn Trent Costain will be at the forefront of these changes, helping to shape the emerging landscape, and enabling customers to combine their requirements for on site water services, with the opportunity to buy their water from a single national supplier.

Severn Trent Services and Costain have a proven track record in delivering improved efficiencies in water and waste water management through an existing joint venture to operate and maintain over 5,000 assets and 1,300 sites for the Ministry of Defence, one of the largest PFI contracts in Europe.

The two companies will combine parts of their existing operations within the JV (see Note 1 below), in which Severn Trent will have an initial 60% shareholding.

Water chart for the last 7 months.


As you can see its been on the up.. unlike here where it won't stop coming down -):

Interim Management Statement.

The Board of Severn Trent Plc confirms that trading across the group has been in line with its expectations and prior guidance.

http://www.moneyam.com/action/news/showArticle?id=4425970 Wonder what that's all about.. If anything?

Just a regulatory obligation to notify.

That's a fine candle - as the actress said to the bishop!

Statement re Ofwat's consultation on s13 proposal

Severn Trent has today written to Ofwat regarding the proposed changes to Severn Trent Water's Licence, published on 26 October 2012.

Whilst Severn Trent Water is minded to accept Ofwat's proposed change to its licence, the company believes it would be better if the current proposals were modified.

In response to Ofwat's clarification note published earlier this week, the company has made constructive suggestions to overcome concerns regarding the prospect of losing 40 per cent of revenue from wholesale price controls and lack of clarity about how future prices would be controlled.

The company believes that these suggested changes would still give Ofwat the flexibility required to drive the significant reform of the industry which Severn Trent continues to be supportive of.

Severn Trent publishes its Interim Results to 30 September 2012 on Tuesday 27 November.

Half Yearly Report

Highlights

● Financial results in line to deliver full year expectations

● Additional £150 million investment programme already delivering operational improvements to the benefit of customers

● Leakage, pollution incidents and SIM score all improving*

● On track to deliver improved serviceability for water distribution network and improvement in Ofwat KPI performance for this year

● Non-regulated part of the group showing a positive trend

● Responded to Ofwat proposed licence modifications with constructive suggestions to reduce uncertainty

Is it just my W/list or are most shares having a rest today? apart from this one which is up 1.5% at the mo.

Stan - take a look at VOD :-)

Oh yeah.. I sit corrected -):

Interim Management Statement

Regulated business
Performance in our regulated business for the period since November 2012 has been largely as expected and outlook for the full year remains as previously indicated.

Total revenue for the full year should be in line with current market expectations although consumption across our measured income base has continued to decline period on period, driven by lower commercial consumption.

Operating expenditure continues to be in line with management's expectations for the year and on a like for like basis in line with the level of the Final Determination. Operating costs are expected to rise year on year, due to the impact of inflation, a full year of operating private drains and sewer assets, and increases in quasi taxes, offset by efficiency improvements.

We continue to forecast a bad debt level around 2.2% of turnover for the full year, although we continue to monitor future developments closely, especially unemployment levels and changes to the UK benefits system

Expectations for net capital expenditure (UK GAAP after deducting grants and contributions) will be towards the low end of the £555 million to £565 million range previously guided, including an estimated £10m related to private drains and sewers. The level of net infrastructure renewals expenditure included in this range is anticipated to be £140 million to £150 million.

On 18 January 2013 Severn Trent Water announced it had accepted the Section 13 Notice issued by Ofwat on 21 December 2012, setting out proposed changes to its licence.

Non-regulated business
As previously guided, on a like for like basis Severn Trent Services ongoing business (Water Purification and Operating Services) is expected to deliver mid single digit revenue growth for the full year, with PBIT impacted by investment in Operating Services andBALPURE®, which will offset the underlying growth in the business.

Group
The group interest charge is now expected to be broadly flat year on year (vs. previous guidance of slightly lower), before adjustments related to pension accounting. The non-cash interest charge will be higher than previously forecast as RPI outturned higher than expected in December 2012, but remains lower year on year. This reduction in the non-cash charge will now be fully offset by a higher cash interest cost due to a higher level of net debt over the year and the cost of carry from the recent successful bond issue. In January the group raised £500m from a 13 year bond issue, at a coupon of 3.625%, which was five and a half times subscribed and is the largest sterling bond that Severn Trent has issued.

The expected effective current tax rate for the group for 2012/13 remains at 24% to 26%.

On 17 January 2013 Ofwat announced it had accepted binding commitments from Severn Trent Plc, offered to address concerns raised by Ofwat following a complaint under the Competition Act. As a result, the investigation has been closed without any findings being established in respect of the allegations made in the complaint.

On 8 February Severn Trent Plc announced the sale of Severn Trent Analytical Services (also known as Severn Trent Laboratories) to ALS Limited.

Severn Trent Plc will announce its Preliminary results for the period ending 31 March 2013 on 30 May 2013.

Been a VG year for extracting money from this lot, must do it again later this summer.

Approaching an 8 year high so far today.

Statement re Press Speculation

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

14 May 2013

Severn Trent Plc ("Severn Trent")

Confirmation of approach

The Board of Severn Trent notes the recent press speculation concerning the possibility of an offer being made for the whole of the issued share capital of Severn Trent.

The Board of Severn Trent announces that it has received an approach with a view to making a proposal from a consortium made up of Borealis Infrastructure Management Inc., the Kuwait Investment Office and Universities Superannuation Scheme Limited (together, the "Consortium"). This may or may not lead to an offer being made for Severn Trent.

This approach is at a very early stage, no proposal has been made and there can be no certainty that an offer will be made or as to the terms of any such offer, should one be forthcoming.

In accordance with Rule 2.6(a) of the Code, the Consortium is required, by not later than 5.00 p.m. on 11 June 2013, to either announce a firm intention to make an offer for Severn Trent in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

A copy of this announcement will be available at www.Severn Trent.com/investors.

The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

An approach to a possible takeover http://www.moneyam.com/action/news/showArticle?id=4593887

Rejection of Possible Offer

Rejection of proposal

Further to our announcement of 14 May regarding an approach by a consortium comprising Borealis Infrastructure Management Inc., the Kuwait Investment Office and Universities Superannuation Scheme Limited (together, the "Consortium"), representatives of Severn Trent met representatives of the Consortium today for the first time.

At that meeting, a conditional proposal was tabled by the Consortium (the "Proposal") at only a modest premium to the share price before the announcement of 14 May. The Board of Severn Trent has reviewed the Proposal with its advisers and concluded that it completely fails to recognise the existing and potential value of Severn Trent.

Accordingly the Board has informed the Consortium that it has rejected the Proposal.

Not enough offered, maybe some mileage in this one then.

Credit Suisse Neutral 2,055.50 1,530.00 1,530.00 Reiterates

Finals out Thursday on these and the current bidders have until 11th June to up their bid or walk away. Anyone here got these at the moment?

Final Results

Highlights

● Delivering on dividend policy - 8.2% growth vs. 2011/12
● Total shareholder return in the current regulatory period (AMP5)1 - 72%
● Creating long term value through efficient investment - £555 million invested this year
● Continued growth in RCV2 from £7,089 million to £7,364 million (+3.9%)
● Delivered significant operational improvements and higher levels of customer service

○ Improved or stable performance on 13 out of 14 Ofwat KPIs year on year

○ Customer satisfaction (SIM score) improving

● Efficiency improvements at Severn Trent Water helping to offset additional infrastructure investments
● Non-regulated business delivered revenue growth year on year3
● Well prepared for next price review
● Full year dividend for 2013/14 set to be 80.40p, up 6% in line with current RPI+3% growth policy

New offer of £22 http://www.moneyam.com/action/news/showArticle?id=4610255 How come the current SP is only just over £21 then?

I think a proviso of the original offer was that the dividend (45.51p - ex on 19th) would not be paid.

Not enough.. we want more http://www.moneyam.com/action/news/showArticle?id=4610693

Bidder for Severn Trent set to walk as deadline looms

LONDON | Tue Jun 11, 2013 11:14am BST
(Reuters) - British water company Severn Trent will see its suitor walk away on Tuesday unless it starts last-minute talks with the Canadian-led consortium whose three previous approaches it has spurned.

A deadline of 5:00 p.m. British time has been set by Britain's mergers and acquisitions regulator for the LongRiver consortium to make a formal offer for the utility or withdraw its interest.

Some major shareholders have urged the FTSE 100 company to open negotiations with the consortium in an attempt to elicit a higher offer than the 22 British pounds per share it rejected late on Friday.

May buy in now.

Indeed Skinny, very interesting now.

Down around 9% which seems about where they were before takeover talk, may be further to fall so still watching.

Clearly -):

Beaufort Securities Buy 1,757.00 - - Reiterates

Citigroup Neutral 1,757.00 1,520.00 1,750.00 Reiterates

Barclays Capital Equal weight 1,757.00 - 1,765.00 Downgrades

Waste and water group Severn Trent slipped a further 11p at 1,754p after Barclays Capital downgraded the stock to equal-weight from overweight.

£17.50 seems a reasonable entry point, but could be wrong.

Divi out paying 45.51p. this week.

I've been filled @1,700p.

Nice one, can't see it going any lower today at least.

I hope so Stan - I must be honest - I forgot I'd put the limit in - well it was yesterday!

Interim Management Statement


The Board of Severn Trent Plc confirms that trading across the group has been in line with its expectations and prior guidance.

Regulated business
Customer prices in Severn Trent Water increased by 2.0% from 1 April 2013, reflecting November RPI of 3.0% and a k-factor of minus 1.0%. Consumption across our measured income base has declined year on year in the period, in line with our expectations.

Our forecasted bad debt level is maintained at around 2.2% of turnover for the full year, and we continue to monitor developments such as unemployment levels and changes to the UK benefits system closely.

Operating expenditure continues to be in line with the Board's expectations for the year and, on a like for like basis, in line with the level of the Final Determination. Operating costs are expected to rise year on year due to the impact of inflation and increases in quasi taxes, partially offset by efficiency improvements.

Expectations for net capital expenditure (UK GAAP after deducting grants and contributions) remain in the range £600 million to £620 million, including an estimated £15 million related to private drains and sewers. The level of net infrastructure renewals expenditure included in this range is anticipated to be £135 million to £145 million.

Non-regulated business
In Severn Trent Services we expect to see the benefits of our previous investments in growth areas. Growth will however be second half weighted as indicated by timing of deliveries from the Water Purification order book.

Group
The group interest charge is expected to be higher year on year due to higher net debt and with the adoption of revisions to IAS19 increasing the pension accounting interest charge. The year on year impact of this revision to IAS 19 is estimated at £13m.

The effective current tax rate for the group for 2013/14 is expected to remain between 23% and 25%.

Under our dividend policy of RPI+3% growth the dividend for 2013/14 is set to be 80.40 pence, representing growth of 6% year on year.

Other
In early May Severn Trent Plc received an approach from LongRiver Partners, a consortium led by Borealis Infrastructure Management, about a possible offer for the company. On June 11th LongRiver Partners confirmed that it did not intend to make an offer for Severn Trent Plc, and that it is bound by the restrictions under Rule 2.8 of the Takeover Code. In addressing this approach, the board of Severn Trent plc has incurred costs for advisory, legal and other services of approximately £19 million in aggregate.

Severn Trent Plc will announce its interim results for the period ending 30 September 2013 on 26 November 2013.

Morgan Stanley Underweight 1,549.50 1,546.00 1,185.00 1,185.00 Reiterates

L&G dip below 4% http://www.moneyam.com/action/news/showArticle?id=4671492

Interim's out tomorrow and to think that £22 was spoken of in the summer, under £18 now.

Half Yearly Report

Highlights

●Financial results in line to deliver full year expectations
●Below inflation bill increase for customers this year - Severn Trent remains lowest average combined bill in England and Wales
●Operating costs for adoption of PDaS, up to an estimated £41 million in total over the current regulatory period, being absorbed by Severn Trent Water
●Customer service, sewer flooding and supply interruptions all improving1. 8 Ofwat KPIs in upper quartile2 (vs. 4 in prior year)
●Additional £150 million investment programme continuing to deliver service improvements for the benefit of customers - £91 million invested to date
●Estimated RCV3 at September 2013 £7,511 million, on track to reach £8 billion by March 2015
●Bad debt stable and amongst lowest in industry, with a range of Severn Trent social tariffs to help customers
●Maintained underlying group PBIT despite rising power costs whilst delivering service improvements; interim dividend growth in line with policy
●Completed extensive stakeholder engagement programme as part of Business Plan for next regulatory period, AMP6 - on track to submit plan to Ofwat by 2 December
●New CEO announced - Liv Garfield to join Severn Trent in Spring 2014

Interim Management Statement

Severn Trent Plc Interim Management Statement
for the period 1 October 2013 to 13 February 2014

The Board of Severn Trent Plc confirms that the group's trading performance overall remains in line with its expectations and prior guidance.

Regulated business
Consumption across our measured income base is expected to be slightly higher year on year, given current volumes.

Our forecasted bad debt level is maintained at around 2.2% of turnover for the full year, and we continue to monitor developments such as unemployment levels and changes to the UK benefits system closely.

Operating expenditure continues to be in line with the Board's expectations for the year and, on a like for like basis, in line with the level of the Final Determination. Operating costs are expected to rise year on year due to the impact of inflation and power costs, partially offset by efficiency improvements. We currently anticipate no material financial impact from the present floods.

Net capital expenditure (UK GAAP after deducting grants and contributions) is expected to be towards the low end of the £600 million to £620 million range, including an estimated £15 million related to private drains and sewers. The level of net infrastructure renewals expenditure included in this range is anticipated to be £135 million to £145 million.

On 2 December 2013 Severn Trent Water submitted its business plan for 2015-2020 to Ofwat. On 19 December 2013, Ofwat published a revised price review process and timetable. Ofwat subsequently published guidance on risk and reward on 27 January 2014. We await further announcements from Ofwat on plan ratings, starting on March 10 2014.

Non-regulated business
Operating Services continues to perform well year on year, but in Products shipments have been below expectations in the last two months due to continuing customer project and delivery delays. Therefore for the full year Severn Trent Services underlying PBIT is now expected to be lower year on year.

Group
The group interest charge is expected to be higher year on year due to higher net debt and with the adoption of revisions to IAS19 increasing the pension accounting interest charge. The year on year impact of this revision to IAS19 is estimated at £13m.

The effective current tax rate for the group for 2013/14 is expected to be between 21% and 23%.

Under our dividend policy of RPI+3% growth the dividend for 2013/14 is set to be 80.40 pence, representing growth of 6% year on year.

Severn Trent Plc will announce its Preliminary results for the financial year ending 31 March 2014 on 29 May 2014.

Severn Trent Water - Regulatory Update

Final Results

Highlights

● In-line or below inflation bill increases for last four years - Severn Trent remains lowest average combined bill in England and Wales

● Increased investment - £602 million capital expenditure (+8% year on year) - continues to improve services for the benefit of customers

● Customer service, sewer flooding and supply interruptions all improving

○ Improved or stable performance on 10 out of 14 Ofwat KPIs year on year

○ Customer satisfaction (SIM score) improved for 3rd consecutive year

● Continued growth in RCV1,2 from £7,364 million to £7,618 million (+3.4%)

● Group underlying PBIT rose 4.3% year on year

○ Severn Trent Water underlying PBIT rose 4.0%

● Delivering on dividend policy - 6.0% growth year on year to 80.40 pence

● Constructive engagement with Ofwat on 2015-2020 business plan. Revised plan submission 27 June, draft determination expected 29 August, final determination expected 12 December

Deutsche Bank Buy 1,973.00 1,973.00 2,000.00 2,150.00 Reiterates

Interim Management Statement

The Board of Severn Trent Plc confirms that trading across the group has been in line with its expectations and prior guidance.

Regulated business
Customer bills increased by less than inflation, with prices at Severn Trent Water increasing by 1.5% from 1 April 2014, reflecting November RPI of 2.6% and a k-factor of minus 1.1%. For the full year we still expect consumption across our measured income base to be lower year on year.

We have continued to manage our bad debt effectively, with our forecasted bad debt level maintained at around 2.2% of turnover for the full year, and we continue to monitor developments such as unemployment levels and changes to the UK benefits system closely.

Operating expenditure continues to be in line with the Board's expectations for the year and, on a like for like basis, in line with the level of the Final Determination. Operating costs are expected to rise year on year due to the impact of inflation and increases in quasi taxes and power costs, partially offset by efficiency improvements.

We have made good progress in delivering our capital investment programme. Expectations for net capital expenditure (UK GAAP after deducting grants and contributions) remain in the range £510 million to £530 million, including an estimated £15 million related to private drains and sewers. The level of net infrastructure renewals expenditure included in this range is anticipated to be £125 million to £135 million.

Following our best ever environmental performance last year, Severn Trent Water has now been ranked as the industry leading company in 2013 by the Environment Agency's National Environmental Performance Assessment Process, and is the only company to achieve their highest four star rating.

PR14
During the period Severn Trent Water submitted its revised business plan for 2015-2020 to Ofwat. The revised plan reflects guidance given by Ofwat in January 2014 on risk and reward, and the constructive dialogue Severn Trent Water has had with Ofwat to address evidence requests highlighted in the risk based review published in April 2014. As announced on June 27, elements of the plan that change since first submission in December 2013 are:

· Adoption of Ofwat's risk and reward guidance (overall weighted average cost of capital for the appointed business of 3.85%, real);
· PAYG (pay as you go) rate for the wholesale business of c.57% (from c.55% in the December plan);
· Outcome delivery incentives (ODIs) range in line with Ofwat's guidance;
· Total expenditure (totex) of £6.2 billion (vs. £6.1 billion in December plan)1;
· Legacy adjustments - the revised plan includes an additional £10 million shortfall to RCV to reflect serviceability performance that fell short of our targets;
· Customer bills will decrease in real terms by an average equivalent of 1.5% over the five year period (1.2% real decrease in December plan); average household bills remain frozen in year one.

1. 2012/13 prices


Severn Trent Water will continue to have the lowest combined average bill in England and Wales for the 2015-2020 period. Severn Trent Water believes the revised Plan is fair, financeable, and balances the interests of all stakeholders between value for money, delivering better outcomes and returns for investors. Ofwat will now carefully review and assess the plan and a draft determination is expected on 29 August.


Non-regulated business
In Severn Trent Services we expect to see further growth in Operating Services. In Products we expect to see the benefits of the restructuring programme, which is currently being implemented and on track to deliver the benefits as expected.

Group
The group interest charge is expected to be higher year on year due to higher net debt.

The effective current tax rate for the group for 2014/15 is expected to be between 20% and 22%.

Under our dividend policy of RPI+3% growth the dividend for 2014/15 is set to be 84.90 pence, representing growth of 5.6% year on year.

Severn Trent Plc will announce its interim results for the period ending 30 September 2014 on 25 November 2014.

Half Yearly Report

Highlights


● Good first six months: financial results in line with expectations
● Capital investment on track to deliver AMP5 target of £2.6 billion; RCV1 still expected to be £7.8 billion at April 2015
● Good performance for customers:

○ Lowest average combined bills in the land for 2014/15
○ Committed to launching new and enhanced social tariff scheme in April 2015

● Improving performance on many operational metrics - encouraging for new incentive regime starting April 2015

○ Leakage and sewer flooding reduced in first six months of this year
○ More to do in other areas

● Constructive dialogue continues with Ofwat ahead of final determination on 12 December
● Progressing well with plans to deliver the efficiencies required in AMP6
● Investing early: £15 million of AMP6 capex brought forward to second half of this year

Interim Management Statement

The Board of Severn Trent Plc confirms that the group is on track to deliver in line with its expectations for the full year.

Regulated business
Consumption across our measured income base is now expected to be slightly higher year on year as a result of the warmer weather.

We anticipate our bad debt level will remain unchanged at around 2.2% of turnover (UK GAAP) for the full year.

Operating expenditure continues to be in line with the Board's expectations for the year and, on a like for like basis, in line with the level of the Final Determination for AMP5. Operating costs are expected to rise year on year due to the impact of inflation and quasi taxes, partially offset by efficiency improvements.

Expectations for net capital expenditure (UK GAAP after deducting grants and contributions) remain at £530 million to £545 million. The level of expected net infrastructure renewals expenditure included in capital investment remains £130 million to £140 million.

During the period Severn Trent Water accepted the Final Determination from Ofwat for the period 2015-2020, published on 12 December 2014.

Non-regulated business
We continue to expect top line growth to moderate in the second half, although full year PBIT is still anticipated to be in line with our expectations.

Group
The group interest charge is now forecast to be lower year on year. A higher level of net debt will be more than offset by a higher level of capitalised interest, as a result of a shift in the profile of major capital schemes, and a lower non cash RPI interest charge due to falling RPI.

Expectations for the effective current tax rate for the group remain between 18% and 20%.

Under our dividend policy for AMP5 of RPI+3% growth the total dividend for 2014/15 is expected to be 84.90 pence, representing growth of 5.6% year on year.

The Group also announced its new dividend policy for the period 2015-2020. The 2015/16 dividend will be set at 80.66 pence, a reduction of 5% compared to the current year total dividend of 84.90 pence. The policy will then be to grow the dividend annually at no less than RPI until March 2020.

In November 2014 the group announced proposals to create a new organisational structure to respond to the challenges of AMP 6. This programme is now nearing completion, which will give rise to an expected exceptional charge of £25 million - £30 million in the second half of the year. The anticipated annual benefits of this reorganisation are anticipated to be circa. £20 million from FY 2015/16.

Severn Trent Plc will hold a capital markets day on 17 March to provide more detail on its business plan for the period 2015-2020. The company will announce its Preliminary Results for the financial year ending 31 March 2015 on 22 May 2015.

"The Group also announced its new dividend policy for the period 2015-2020. The 2015/16 dividend will be set at 80.66 pence, a reduction of 5% compared to the current year total dividend of 84.90 pence. The policy will then be to grow the dividend annually at no less than RPI until March 2020."

A reduction in divi eh?

Final Results

Successful end to AMP5, ready for AMP6

Highlights
· Good financial performance:
o Adjusted EPS up 15.9% year on year
o Underlying group PBIT £540.3 million, up 3.2% year on year
o Reported group PBIT up 2.6% year on year
· Focus on operational improvement
o Improved or stable performance on 12 out of 14 Ofwat KPIs year on year
o Achieved target of 10% reduction in leakage over AMP5
· Invested a further £547.4 million to complete AMP5 programme of £2.6 billion; RCV1 £7.7 billion at April 2015
· Customer bills remain the lowest in Britain at an average combined bill of £329 for 2015/16
· Severn Trent Services re-focused - disposal of Water Purification business (US$ 81.2 million2)
· Industry leader in renewable energy - self generation equivalent to 28% of Severn Trent Water's energy needs
· Reported group PBT £148.2 million, reflecting fair value losses on financial instruments
· Well positioned for AMP6
o Largest investment programme ever - £3.33 billion capital investment
o New organisational structure and management team
o £300 million of £372 million3 target efficiencies already locked in
o Focused on outperformance
o 2015/16 dividend 80.66 pence, followed by annual growth of no less than RPI until 2020

Interim Management Statement

There has been no material change to business performance or outlook since the Preliminary Results on 22 May 2015. The Board considers that the Group will deliver trading performance consistent with its expectations and prior guidance, with the exception of the interest charge for the full year, which is now expected to be lower year on year due to lower expectations for RPI and LIBOR rates.

We continue to make very good progress on delivering efficiency savings across Severn Trent Water, and have made a good start to our AMP6 capital programme.

Prior technical guidance for the full year 2015/16 included:

· Wholesale Totex (total expenditure) is expected to be £1,030 million to £1,060 million, of which 34.7% will be capitalised onto the RCV.

· Operating costs under IFRS are expected to be lower year on year due to the impact of the organisational changes and the supply chain efficiencies already announced.

· We estimate net capital expenditure (cash) under IFRS will be £410 million to £430 million. In addition, we expect a further £125 million to £135 million of net infrastructure renewals expenditure, which will be charged to the income statement.

· In Business Services we continue to expect growth in revenues and PBIT year on year.

· The effective current tax rate for the group for 2015/16 is expected to be between 17% and 19%.

· The dividend is set to be 80.66p for 2015/16.

Severn Trent Plc will announce its Interim results for the period ending 30 September 2015 on 26 November 2015.

Some serious efficiency savings have seen profit rise on flat revenues at Severn Trent. Turnover at the FTSE 100-listed water utility was down marginally year-on-year, sitting at £896.1m (-0.2%), while profit before interest and tax was up 2.6% on an underlying basis to £281m.

http://www.moneyam.com/action/news/showArticle?id=5161402

Trading update http://www.moneyam.com/action/news/showArticle?id=5206080

Recommended Acquisition of Dee Valley Group Plc by Severn Trent Water Limited, a wholly owned subsidiary of Severn Trent Plc
Summary
· The Boards of Dee Valley and Severn Trent are pleased to announce that they have reached agreement on the terms of a recommended acquisition of the entire issued and to be issued voting and non-voting ordinary share capital of Dee Valley by Severn Trent Water.
· Under the terms of the Acquisition, Dee Valley Ordinary Voting Shareholders will receive 1,705 pence in cash per Dee Valley Ordinary Voting Share they hold. The Acquisition includes a comparable cash Offer for the Dee Valley Ordinary Non-Voting Shares priced at 1,601 per share, in accordance with Rule 14 of the Code. The Acquisition values the entire issued ordinary share capital of Dee Valley at approximately £78.5 million.
· Dee Valley is a natural fit for Severn Trent as it operates in neighbouring areas in England and Wales.
· Severn Trent intends to maintain a separate Welsh licence for Dee Valley and, subject to regulatory approval, intends that the whole of Severn Trent's business in Wales will be regulated under Welsh Government Policy.
· Severn Trent is one of the leading water companies and intends to enhance the current service offering for Dee Valley's customers, including by extending support for vulnerable customers. Dee Valley's customers will share in half of any wholesale cost efficiencies achieved, which will be reflected in future bills.
· Severn Trent is undertaking an over £3 billion investment programme in AMP6. Severn Trent intends to fully support continued investment in infrastructure in the Dee Valley region.
· Severn Trent is confident that, through the application of Severn Trent's successful operating model, economies of scale and lower cost of financing to the operations of Dee Valley, this will deliver attractive returns to Severn Trent shareholders. The Acquisition is expected to be earnings accretive from completion.
· The Dee Valley Board believes that the terms of the Acquisition are in the best interests of Dee Valley Ordinary Shareholders as a whole and intends to recommend unanimously that:
- Dee Valley Ordinary Voting Shareholders vote in favour of the resolutions to be proposed at the Court Meeting and the General Meeting which are to be convened to approve the Acquisition; and
- Dee Valley Ordinary Non-Voting Shareholders accept the Offer.
· The Offer is conditional on the Scheme becoming Effective. However, the Scheme is not conditional on the Offer becoming or being declared unconditional in all respects.
· The Dee Valley Board has withdrawn its recommendation of the acquisition by Ancala and proposes to adjourn the meetings in respect of Ancala's acquisition.

StockMarketWire.com
Dee Valley Group's board has withdrawn its recommendation of Ancala Fornia's offer and urged shareholders to accept a revised offer from Severn Trent.

Under the terms of the revised acquisition, Dee Valley ordinary voting shareholders will receive 1,825 pence in cash for each Dee Valley ordinary voting share. The revised acquisition includes a revised comparable cash offer for the Dee Valley ordinary non-voting shares priced at 1,713 pence per share.

It is intended that the revised acquisition of the Dee Valley ordinary voting shares will be implemented by means of a court-sanctioned scheme of arrangement. The revised acquisition values the entire issued share capital of Dee Valley at approximately £84.0 million.

The Dee Valley board considers that the revised acquisition represents a superior offer in terms of financial value for holders of Dee Valley ordinary voting shares and non-voting shares as compared with the revised Ancala proposal.

The Dee Valley board intends to recommend unanimously that:
- all Dee Valley ordinary voting shareholders vote in favour of the revised scheme and all holders of non-voting shares accept the Revised Severn Trent contractual offer.

Severn Trent declared another chunky dividend and said it planned an enhanced payout next time after spying further efficiencies it can make for the year ahead. In the year to end-March, the water supplier increased turnover 3.7% to £1.8bn, underlying profit before interest and tax by 4.3% to £525m and underlying earnings per share by 19.9% to 122.4p. It proposed a final dividend of 48.90p that takes the annual payout to 81.50p, up 1% on the previous year.

Severn Trent sells North American business

Severn Trent has confirmed the the sale of its North American business (Operating Services, US) to US investors PPC Enterprises LLC and Alston Capital Partners LLC.

The sale valued the business at $62m. Proceeds would be used for general corporate purposes.

Severn Trent's North American business operated and managed water and wastewater systems, and provided management services to municipalities and local communities.

It operated in all aspects of the water and wastewater process including treatment, networks and customer service.

Story provided by StockMarketWire.com

StockMarketWire.com
Severn Trent's underlying profit before interest and tax (PBIT) increased by 4.4% to £287.8 million in the six months to 30 September, driven by the acquisition of Dee Valley, operating cost control and lower infrastructure spend.

Group turnover from continuing operations was £850.4 million, an increase of 3.7%, mainly due to allowed price increases in the Severn Trent Regulated Water and Waste Water business, the acquisition of Dee Valley and growth in both Business Services businesses.

There were exceptional gains of £8.3 million arising from a further pension increase exchange arrangement that has been agreed with the trustees of the Severn Trent Pension Scheme.

Reported group PBIT was £296.1 million, down slightly from £296.7 million the year before.

Net finance costs were £110.5 million (2016/17: £98.5 million) reflecting the impact of higher RPI, the effective cash cost of interest was around 20 basis points lower compared to the same period last year.

The company achieved a 38% reduction in internal sewer floodings and a 50% reduction in external floodings.

It is now generating the equivalent of 38% of energy needs from renewables and is on track for 50% by 2020.

Liv Garfield, chief executive of Severn Trent, said: "Our customer-first approach is delivering positive results. It is also clear in today's society that businesses, including the water sector, are under increasing scrutiny and greater pressure to explain their contribution to society beyond financial profit. We need to make sure our decisions strike the right balance between all of our stakeholders and show we run our business in a sustainable and responsible way."

Goldman Sachs today initiates coverage of Severn Trent PLC (LON:SVT) with a sell investment rating and price target of 1881p.

Trading Update for the period 1 October 2017 to 7 February 2018

Severn Trent, a leading UK water and waste water company, today provides its trading update.

Financial outlook: The Board continues to expect that the Group will deliver FY17/18 trading performance in line with its expectations and guidance previously disclosed at the HY17/18 results presentation on 23rd November 2017. We also reaffirm that at least £50 million customer ODI(1) outperformance payments are expected to be earned this year.

Delivering sustainable performance for all stakeholders:

AMP6(2): We are focused on providing benefits to our customers, communities, colleagues and investors, and we have generated sector-leading outperformance payments on key customer ODIs and continue to do well year-to-date.

We have positive momentum on Waste, particularly on internal and external sewer flooding, category 3 pollutions and serious pollution incidents. We re-confirm that we will hit the AMP6 outperformance cap(3). On Water, we have had more supply interruptions than normal in the last quarter, but are encouraged by the reduction in water quality complaints, which were down 12% year on year. We confirm that we expect to earn at least £50 million customer ODI(1) outperformance payments across Waste and Water this year.

We continue to work hard on improving our SIM(4) scores. We also note that we have one of the sector-leading scores in CCW's(5) independent annual survey on what our customers think.

We have delivered material reductions in our cost of finance. Since our HY17/18 results announcement, a £400m fixed-rate sterling bond with a coupon of 6% matured and was refinanced in part with a £250m five-year sterling bond with a coupon of 1.625%. We continue to explore varied sources of finance to help positon us as an upper-quartile performer in AMP7.

AMP7(2): Ofwat announced its PR19(6) Final Methodology in December 2017, providing welcome clarity on upcoming plans. We expected a tough review, recently restructuring our wholesale business to improve operational effectiveness and our customers' experience. We are encouraged by the enhanced incentive regime, creating strong outperformance opportunities. We are positioning ourselves for continued success in AMP7.

To assist AMP7 planning, we have launched our largest ever customer engagement programme, including a community panel of 10,000 customers, a review of two million customer contacts and analysis of over seven million social media conversations. This helps us understand the core service improvements and wider social and environmental initiatives our customers expect, thereby underpinning future growth in our RCV(7).

Corporate social responsibility: We are conscious of Severn Trent's role in society through the impact on our community, the wider environment, and the importance of workplace diversity. Our work in the community delivers benefits through our extensive customer education and employee volunteering programmes. We are keen to play our part in supporting social mobility and we have a highly-rated apprentice programme. We have reported a gender pay gap of 2.4% and, while we have even further to go, we have made strong progress in supporting workplace diversity and gender pay equality. We have a strong record of environmental performance and through our renewable energy business we are on track to generate the equivalent of 50% of our energy needs by 2020.

JP Morgan Cazenove today upgrades its investment rating on Severn Trent PLC (LON:SVT) to overweight (from neutral).

StockMarketWire.com
Water company Severn Trent reported a slight fall in annual profit after higher costs offset a rise in revenue.

Profit before interest and tax declined by 1.5% to £528.4m, despite revenue rising 3.4% to £1.69bn.

On an underlying basis, profit before interest and tax rose 4% to £541m.

The company declared a dividend of 51.92p, taking the 2017/18 dividend to 86.55p.

StockMarketWire.com
Water and waste utility Severn Trent said it had made a 'good' start to the year, with no material change to its outlook since it delivered its full-year results in May.

'The board continues to expect that the group will deliver full-year trading performance in-line with its expectations and prior guidance,' the company said.

Severn Trent said it was on track with a £100m reinvestment announced in May as it prepared for the UK's new regulator investment framework, known as AMP7.

'Our business plan for AMP7 is progressing well and we are confident we can present a plan this coming September which balances the needs of all of our stakeholders for the next regulatory period,' the company said.

'We remain supportive of Ofwat's approach and welcomed the recent decisions on the 'Putting the sector back in balance' consultation.'