They are a prime target for a takeover. A buy and hold jobby. DYOR

That's me. Bought & holding. It would be rude not to with the current dividend. If they were taken over who would it be by? My hunch is E.ON.

I have added today @ 646p - 3 weeks to ex div

Final Div of 29.6p for those book registered on the 30th June 2006

Safer than wildcats.......

Good to see you SWW.

And you queen1.

Having had 18 months of paper profit wiped in the last few weeks, I have had time to reflect.

Yes, a ghastly few weeks. My initial instinct had been to follow the herd but I resisted as I still believe in the fundamentals of the stocks I hold and just because the market as a whole has given up the ghost it hasn't made my shares bad ones overnight. At least that's what I keep telling myself.

No they are not bad one's.

But oilies have been hit and for being oilies.

I just thought I should diversify for a while.

India's TCS looking to buy outsourcing arm of UK's United Utilities - report
AFX


HONG KONG (XFN-ASIA) - India's Tata Consultancy Services (TCS) is looking to buy Vertex, the outsourcing arm of UK's United Utilities PLC, in a deal valued at 800 mln to 1 bln usd, the Times of India reported on its website, citing company sources.

It said that Vertex -- which has interests in back office functions like customer services, human resources, procurement, finance and accounting -- is perceived by the parent company as a non-core business, and hence the decision to sell.

TCS already has an existing relationship with United Utilities, with the latter having signed a multi-year IT maintenance contract, the newspaper noted.

Interesting, especially as the Vertex performance could have been better so maybe a good move for UU.

In terms of oilies I'm still in SEY as you know. Disappointed that it's been carried down on the wave but hoping for greater things.

ex div 4.30 today . 29.58p bril i have made a great living out of these.

Why should they drop 22p today?

Ex dividend parrisf, and by not as much as the dividend which is a good sign.

You beauty!!!

Target 646.

If this goes on, I may switch to SAB and try to do the same. (price permitting of course).

Hello SWW - nice to see you on here :-)

That'll do me thanks.

Back for the interim.

Don't mention it.

queen1 - I am looking at SAB for nexr week.

The sp dropped back from intraday high, but I would like another 10p off that before I buy.

Just a loud thought in case you wish to have a look see too.

The current weakness is due to a strike call in USA and weakness in the Rand.

Worth considering just to take the divi, in my case I had to sell UU. to do it.

Interesting, I shall peer & ponder.

Thanks Queen1 for info. I'm holding and in profit and a good divi.

Good for you parrisf. Me too!

Often the right thing to do perring...........

See how it pans out!

Today's statement see's the company on-track with even a few positive comments about Vertex. Good & steady.

Managed to break through the 700p barrier this week and just about staying above it at present. If it can be held until the end of the day next week could be good.

Will look much better at 640p again.

3 months should do it all imo and I am wishfully thinking.

I don't think we'll be seeing 640p again for some time, at least I hope not :-)

Never know.......

Solid results out today. And three months on SWW I'm pleased to see that we're nowhere near your 640p price hope!

Water and power group, United Utilities, posted a 14% increase in underlying pretax profits. Numbers were underpinned by a good financial performance in United Utilities North West.

For the six months to September 30th, the group recorded a pretax profit of 282m, up from 248m the prior year and in line with analysts' forecasts. The interim dividend was 14.63p per share, up 2.4% on a year earlier, while earnings per share reached 25.7p.

No harm in trying queen1.

It's a great stock and safe!

Handy dividend as well.

Yep!

Consecutive gains for a number of days now. Much more of this and we'll be testing recent highs of 800p.

Agree. Good share, good divi. A nice long term hold.

Indeed, with an additional whiff of sector consolidation in the air as well.

For those who like chasing dividends UU. goes ex-div tomorrow with a 30.30p per share pay-out

Thanks F, in a rising market I may have been on to this one but I'm "extra" risk averse at the mo.

Look at the downside on that, especially with the flood issues and supplies.

http://www.unitedutilities.com/?OBH=425&ID=1488

Flooding relief for Egremont residents 18 June 2007

Flooding in a part of Egremont should become a thing of the past thanks to a 180,000 investment by water company United Utilities.

Homes on Wodow Road have occasionally suffered because a nearby sewer was not big enough to cope at times of very heavy rain.

With more houses being built over the years and the increased use of hard surfaces which prevent rainwater simply draining away into the ground the sewers built in Victorian times are no longer big enough to cope with the demand 120 years later.

So now United Utilities is replacing the inadequate sewer with a new one which will take excess rainwater and discharge it through a new outfall into the River Ehen nearly a mile away.

The outfall, which has been designed after lengthy consultation with the Environment Agency, is specially designed to disperse the water without disturbing the river bed.

The work has already started, with the new overflow system being laid across farmland close to the river.

Late in June the work will move to the top of the Wodow Road (cul-de-sac), where a new manhole will be installed and about 50 metres of pipe laid before being connected to the existing network.

This will cause a little disruption to local residents, who for a short time will have to park their cars somewhere else.

Afterwards all roads, pavements and agricultural land will be reinstated and reopened.

United Utilities project engineer Simon Smith said: We are lucky that most of the work will take place on agricultural land, so there will be very little inconvenience to people living in the area.

Its not something we can do without causing any disturbance at all to local people, but we will do all we can to keep it to a minimum. We are sure people will agree that the end results will be well worthwhile.

The scheme is typical of the sort of quality-of-life improvements we are carrying out partly funded by customers bills.

Between 2005 and 2010 United Utilities is investing 2.9 billion across the North West to improve water quality and the environment.

Egremont weather forecast.
http://www.bbc.co.uk/weather/5day.shtml?id=1398

Well it is a year ago and I was wishing to see 640 again, now it's here, I think I will wait a bit more......

I hope you got in seawallwalker as we've broken 700p again this morning:

United Utilities said it is on track with its expectations to deliver the first half results ended June 30.

The water and wastewater systems operator said its underlying operating profit for non-regulated activities in the first half is expected to show a modest decrease compared to year ago, although its regulated activities should demonstrate 'good underlying profit growth'.

The company said performance across the contract portfolio is in line with its expectations. 'Whilst new opportunities have been limited, the business continues to benefit from a strong order book and secured revenue streams', it added, in respect of its non-regulated activities.

I am still waiting...........

Where is the bottom?

2009 prelim results seem OK. No mention of final div yet. Assume sell off is due to uncertainty of agreement to new 2010/15 regs.

IMO this is being traded

Currently at March lows! Double bottom or falling knife gone for spec.long

New article and analysis.

http://www.proactiveinvestors.co.uk/companies/news/9650/united-utilities-defensive-attractions-on-tap-9650.html

Looked at this one as a possible recovery play, unfortunately as long as it keeps making lower highs and lower lows, not yet in contention, but watching may surprise yet! not holding my breath though.

Final Results.

Final results for the year ended 31 March 2010

m Year ended

(continuing operations) 31 March 2010 31 March 2009
(restated)*

Operating profit 817.9 729.5

Underlying operating profit** 756.3 736.1

Profit before tax 474.2 529.3

Underlying profit before tax** 500.4 531.3

Basic earnings per share*** 59.2 26.5
(pence)

Total dividends per ordinary 34.30 32.67
share (pence)

United Utilities Group PLC

22 September 2011

UNITED UTILITIES TRADING UPDATE

United Utilities Group PLC today issues an update for the six months ending 30
September 2011. Current trading is in line with the group's expectations and
the company's operational and efficiency initiatives continue to progress well.
The business remains on track to deliver its outperformance targets.

As outlined in the group's 2010/11 full year results, published on 26 May 2011,
United Utilities has now adopted a single segment for financial reporting
purposes.

Revenue in the first half of this year is higher than the corresponding period
last year, largely as a result of the impact of the regulated price increase
for 2011/12 of 4.5% nominal (0.2% real price decrease plus 4.7% RPI inflation).
However, as outlined previously, operating expenses are also expected to rise,
principally as a result of higher infrastructure renewals expenditure and
depreciation, alongside other inflationary cost pressures. It is anticipated
that regulatory capital investment and depreciation will be higher in the
second half of 2011/12, compared with the first half of the year.

United Utilities' financial position remains robust with the group having
headroom to cover its projected financing needs into the second half of 2013,
consistent with its prudent liquidity policy. Reflecting this robust financing
position, the group intends to accelerate approximately GBP100 million of
previously agreed pension deficit payments, providing a higher investment
return for the group than could have been achieved through short term deposits.

The underlying net finance expense for the first half of 2011/12 is expected to
be slightly higher than the first half of last year. This reflects additional
finance expense relating to the GBP200 million index-linked loan facility with
the European Investment Bank, drawn down between March and May 2011, and
marginally higher RPI inflation in respect of the group's index-linked debt
with an eight month lag.

A deferred taxation credit of approximately GBP50 million will be recognised in
the financial statements for the first half of 2011/12. This follows the UK
government substantively enacting the change to reduce the mainstream rate of
corporation taxation from 26% to 25% from 1 April 2012. A similar credit was
also recognised in the first half of last year.

Group borrowings, net of cash and short term deposits and derivatives, at the
half year are expected to be moderately higher than the position at 31 March
2011. This principally reflects expenditure on the regulatory capital
investment programme, payment of the 2010/11 final dividend and payments in
relation to pensions, interest and tax, partly offset by operational cash
flows.

United Utilities will announce its half year results on 23 November 2011.

Reporting on Wednesday half time figures, with relatively predictable income and a strategy of providing a decent dividend. Yields of around 4 - 5% range are expected
for the full year.

Half Yearly Report.

UNITED UTILITIES INTERIM MANAGEMENT STATEMENT

United Utilities today issues an interim management statement covering the
period from 1 October 2011.

Trading update

Current trading is in line with the group's expectations of delivering a good
underlying financial performance for 2011/12.

In the first half of 2011/12, revenue increased by around 4%, compared with the
first half of last year, and this trend is continuing. As indicated previously,
infrastructure renewals expenditure and depreciation are expected to be higher
in the second half of 2011/12, compared with the first six months of the
financial year, reflecting good progress on the capital investment programme
and the impact of the transfer of private sewers.

In December 2011, the RPI inflation index for November 2011 was published and
this annual inflation rate will be included in the allowed regulated price
limits for the financial year starting 1 April 2012.

Supporting its renewed focus on operational performance and customer service,
United Utilities continues to implement a wide range of business improvement
initiatives. The company made good progress in the first half of 2011/12,
building on the achievements from the prior year, and this improving trend is
continuing. United Utilities has moved up four places to fifth position, out of
the ten water and sewerage companies, based on Ofwat's quarter three 2011/12
qualitative service incentive mechanism (SIM) assessment. United Utilities is
currently in eighth position on this qualitative measure for the financial year
to date. Encouragingly, the number of customer complaints received via the
Consumer Council for Water has reduced further in the three months to December
2011, positively contributing to Ofwat's quantitative SIM assessment.

United Utilities has continued with its strong year round operational focus on
leakage and is on course to meet its 2011/12 regulatory leakage target. In
addition, water resource levels are robust, with reservoir stocks currently in
excess of 90% and in line with typical levels for this time of year.

The ownership of and responsibility for private sewers was transferred to the
English and Welsh water and sewerage companies from 1 October 2011, providing
additional benefits for customers and the opportunity for further growth in the
regulatory capital value. United Utilities has been preparing for this for some
time to help ensure a smooth transfer and the level of customer contacts and
the increase in work volumes continues to be broadly in line with expectations.
There is no change at this stage to the cost estimates initially outlined in
May 2011.

Financial position

United Utilities' financial position remains robust and its regulatory capital
asset base continues to grow, reflecting continued high levels of capital
investment and positive RPI inflation. Following agreement in November 2011 of
a GBP200 million index-linked term loan facility with the European Investment
Bank, to support delivery of the capital investment programme, the group has
headroom to cover its projected financing needs into 2014, in line with its
policy of maintaining a prudent level of liquidity on a rolling basis. United
Utilities aims to draw down this GBP200 million loan facility, via a number of
tranches, by the end of the 2011/12 financial year.

As expected, group net debt is slightly higher, compared with the position at
30 September 2011, principally reflecting ongoing high levels of capital
investment and after taking account of the 2011/12 interim dividend payment.
Gearing remains stable and in the middle of Ofwat's assumed range (55% to 65%
net debt to regulatory capital value), supporting a solid A3 credit rating for
United Utilities Water PLC.

Political and regulatory developments

DEFRA published the white paper, "Water for Life", on 8 December 2011 which
sets out the UK government's vision for the future of the water industry. On 23
November 2011, Ofwat published the document "Future price limits - a
consultation on the framework". Following this, on 21 December 2011, Ofwat
published a further industry consultation paper in respect of water companies'
conditions of appointment. United Utilities is assessing these papers and will
continue to actively engage with all key parties to help achieve the optimal
outcome for all its stakeholders.

Outlook

United Utilities has made good progress in the early part of the 2010-15
regulatory period and will continue with its strong focus on improving
operational performance, customer service and cost efficiency. Looking ahead,
management is confident of delivering a good underlying financial performance
for the year ending 31 March 2012.

In line with its usual practice, United Utilities intends to issue a pre-close
trading update on 22 March 2012.

Pre-Close Trading Statement.

Final Results.

Anyone any idea why this has taken off like a rocket today? I can't find anything- well, anything that I understand!

Possible takeover target - United Utilities investors agog with anticipation as break-up speculation mounts

Thanks skinny. Where did you find that?

Don't bother to reply just opened article and now know! Doh!!

In auction +11.2%

Trading Statement

United Utilities today issues an update for the six months ending 30 September
2012. Current trading is in line with the group's expectations of delivering a
good underlying financial performance for 2012/13. The company continues to
make further progress improving operational performance and customer service
and remains confident of delivering its 2010-15 regulatory outperformance
targets.

Revenue is expected to be higher than last year, reflecting the regulated price
increase for 2012/13. However, as expected, this increase is slightly below the
allowed regulated price rise, principally reflecting the ongoing impact of
customers switching to meters and continued lower commercial volumes. As
outlined previously, the increase in revenue for the full year is anticipated
to be largely balanced by higher depreciation, alongside higher infrastructure
renewals expenditure (IRE) and other operating costs both of which are impacted
by the transfer of private sewers.

Regulatory capital investment and depreciation are expected to be slightly
higher in the second half of 2012/13, compared with the first half of the year.
However, the profile of IRE is anticipated to be smoother across 2012/13 than
in 2011/12, when it was skewed much more towards the second half of the year.
Furthermore, IRE and other operating costs in the first half of 2011/12 were
not impacted by the transfer of private sewers. As a result, the profile of
underlying operating profit is expected to be more evenly distributed between
the first half and second half of 2012/13, compared with 2011/12 when
underlying operating profit was much higher in the first half.

The underlying net finance expense for the first half of 2012/13 is expected to
be moderately lower than the first half of last year. This principally reflects
lower RPI inflation in respect of the group's index-linked debt.

A deferred taxation credit of approximately £50 million will be recognised in
the financial statements for the first half of 2012/13. This follows the UK
government substantively enacting the change to reduce the mainstream rate of
corporation taxation from 24% to 23% from 1 April 2013. A similar credit was
also recognised in the first half of last year.

Group borrowings, net of cash and short term deposits and derivatives, at the
half year are expected to be moderately higher than the position at 31 March
2012. This principally reflects expenditure on the regulatory capital
investment programme, payment of the 2011/12 final dividend and payments in
relation to pensions, interest and tax, partly offset by operational cash
flows. Gearing remains in the middle of Ofwat's assumed range (55% to 65% net
debt to regulatory capital value), reflecting growth in the regulatory capital
value through continued high levels of capital investment coupled with RPI
inflation.

United Utilities will announce its half year results on 28 November 2012.

United Utilities raises profits and dividend
StockMarketWire.com
Waste and water company United Utilities has delivered a strong set of financial results for the six months to end-September.

Revenue was up by £30 million to £823 million, principally as a result of the impact of the regulated price increase for 2012/ 13 of 5.8% nominal (0.6% real price increase plus 5.2% RPI inflation) partially offset by reduced commercial volumes, alongside lower property sales (associated with the water business).

Infrastructure renewals expenditure was up £12 million, reflecting continued progress on the capital investment programme and the impact of the transfer of private sewers.

This spend, alongside an expected increase in depreciation, plus operating expenditure relating to private sewers, resulted in underlying operating profit decreasing by £8 million to £316 million.

Total regulatory capital investment in the half year, including £79 million of infrastructure renewals expenditure, was £354 million, representing an increase of 29% compared with the first half of last year.

Underlying profit before taxation was up 3%, at £190 million. This was as a result of a lower underlying net finance expense, reflecting lower RPI inflation, which more than offset the reduction in underlying operating profit.

Underlying profit after taxation was 5% higher than the first half of last year, at £142 million, reflecting the reduction in the mainstream UK corporation taxation rate.

Reported profit after taxation benefited from a £53 million deferred taxation credit, which follows the UK government's changes to reduce the mainstream corporation taxation rate. A similar credit of £50 million was recognised in the first half of 2011/12.

In line with its policy, the board has declared an interim dividend of 11.44 pence per ordinary share (2011 10.67p).

At 9:22am: (LON:UU.) United Ulilities share price was +11.5p at 680.5p

Interim Management Statement

Trading update

Current trading is in line with the group's expectations.

Revenue has continued to increase at a rate slightly below the allowed
regulated price rise for 2012/13, as expected, reflecting the on-going impact
of a tough economic climate on commercial volumes. Depreciation, power and
other costs have also increased as expected, largely offsetting the increase in
revenue. The company continues to make good progress on its regulatory capital
investment programme and remains on track to invest around £750 million in its
asset base in 2012/13.

Improving operational performance and customer service continue to be top
priorities for United Utilities Water (UUW).

The business met its regulatory leakage target for the sixth consecutive year
in 2011/12 and remains on course to meet its target for 2012/13. Water
resources in the region are robust, with reservoirs currently around 90% full.

UUW's significant progress on Ofwat's customer service measure, the service
incentive mechanism (SIM), in 2011/12 has continued into 2012/13.
Encouragingly, our qualitative SIM results for quarter three 2012/13 have
helped improve our ranking. Building on the performance achieved in the first
half of 2012/13, UUW has now moved up to 12th position out of 21 water
companies on this qualitative measure for the financial year to date. UUW was
16th in 2011/12. Overall SIM performance for 2012/13, including our
quantitative SIM score, will be published, along with the industry's results,
after the financial year end.

In addition, the number of customer complaints UUW received via the Consumer
Council for Water (CCW) has reduced further in the three months to December
2012 and, importantly, there have been no customer complaints requiring
investigation by the CCW in the first nine months of the 2012/13 financial
year. This improved performance will positively contribute to Ofwat's
quantitative SIM assessment.

Final Results

RBC note today:
"We maintain our Underperform recommendation for UU with a lower 650p price target. Its current 7% trading premium-to-RCV valuation, buoyed by recent M&A news, does not appropriately capture the risks of (i) an unfavourable AMP6 regulatory outcome particularly on Average Cost-to-Serve (ACTS); and (ii) a 15% dividend cut in FY16 which we see as necessary in light of UU’s deteriorating credit metrics.
The next step for the ongoing PR14 process is July's final framework and methodology statement. We expect little by way of financial parameters in this statement, though the statement may provide some early insights on Ofwat’s approach to clawing back financing outperformance and its final ACTS methodology. ACTS is currently the single most exposed risk area for UU, where the company estimates that it may lose “over £300m” in revenues across the five-year period.
In light of an anticipated harsher regulatory settlement, particularly with regards to the ACTS, we reiterate our call for a dividend cut of 15% in FY16 for UU as we see UU’s credit metrics and dividend payout ratio deteriorating across AMP6. We see FY16 DPS rebased at 32.3p (4.4% yield). Importantly, our call differs from consensus which sees FY16 DPS of 37.0p or just a 2% dividend cut from FY15.
Despite the recent approach by the LongRiver consortium to acquire SVT, we see UU as an unlikely M&A target at the moment particularly as we advance further into the current AMP6 price review where regulatory risk is relatively high. Furthermore, the scale of UU and the limited pool of potential remaining deep-pocketed suitors for UK water companies limits the likelihood of further M&A.
UU is currently trading at a 7% premium to the FY14E RCV which we believe does not fully reflect the regulatory and dividend risks. As we enter the more advanced stages of PR14, we believe an Underperform recommendation remains appropriate. Our 650p price target uses a 2% premium to RCV, and reflects the risks we see from the allowed rate of return being cut to 4.0% post-tax-real (from 4.5% currently) and the knock–on risk of a 15% dividend at the start of AMP6."

Interim Management Statement and AGM

Trading Statement

Half Yearly Report

On board as of today. Paid 646. Tried to pick bottom, but failed again.

Interim Management Statement

StockMarketWire.com
Analysts at Deutsche Bank believe the recent announcement from OFWAT on financial parameters and incentives is helping improve regulatory visibility, specifically on returns, and should enable UK water companies to outperform, going forward. The broker believes another likely outcome of the review will be to provide companies with flexibility over cashflow which, in turn, should support steady dividend growth. Deutsche has therefore upgraded its recommendations for Severn Trent (LON:SVT) and Pennon (LON:PNN) to "buy" from "hold" and reaffirmed its existing "buy" rating on United Utilities. Target price have been increased across the board with SVT rising to 2,000 pence per share (from 1,550 pence), PNN to 800 pence (from 650 pence) and UU to 1,000 pence (from 800 pence). "Within a year we believe the sector will have regulatory and dividend visibility and a resumption of bid speculation is possible," the broker said in a note to clients. "These factors could drive a re-rating of listed water stocks to levels comparable with UK and US regulated peers." Given an implied upside of around 30 per cent to its upgraded target price, Deutsche highlights United Utilities as its top pick in the sector.

Final Results

Interim Management Statement and AGM

Trading Statement

Current trading is in line with the group's expectations for the six months
ending 30 September 2014. Customer service continues to improve, underpinned by
good operational and environmental performance. The company remains confident
of delivering its 2010-15 regulatory outperformance targets.

Operational performance

United Utilities has delivered significant improvements in customer service
over the last few years and we continue to make progress, supported by a
further reduction in customer complaints. Our asset serviceability performance
has been good, with all four major asset classes rated either `stable' or
`improving'. This good performance has been recognised in Ofwat's draft
determinations in August, with no penalties relating to the service incentive
mechanism (SIM) or asset serviceability. This is underpinned by top quartile
operational performance, as measured through Ofwat's key performance indicators
and the Environment Agency's assessment.

Capital delivery

Our capital delivery performance in this regulatory period has been good and
planned investment is continuing at high levels, as we invest to maintain and
improve services for customers and deliver further environmental benefits. This
capital programme also makes a significant contribution to the regional
economy, providing new investment and supporting employment. Regulatory capital
investment for 2014/15, including infrastructure renewals expenditure, is
expected to be similar to the high level of investment we made in 2013/14.

Financials

Underlying operating profit for the first half of 2014/15 is anticipated to be
similar to the first half of 2013/14. This principally reflects an allowed
regulated price rise offset by the impact of the previously announced special
customer discount and the expected increase in depreciation and other cost
pressures, including bad debt. The underlying net finance expense for the first
half of 2014/15 is anticipated to be slightly lower than the first half of last
year, primarily reflecting the impact of lower RPI inflation on our
index-linked debt.

As the company continues to invest in its asset base, group net debt at 30
September 2014 is expected to be slightly higher than the position at 31 March
2014. This principally reflects regulatory capital expenditure, payment of the
2013/14 final dividend and payments in relation to interest and taxation,
largely offset by operational cash flows. Gearing remains well within Ofwat's
2010-15 assumed range of 55% to 65% net debt to regulatory capital value. This
supports a solid A3 credit rating for United Utilities Water (UUW). The group
has financing headroom into 2016.

Accounting change

From 1 April 2014, a change under IFRS11 impacts the accounting treatment of
the group's investment in Tallinn Water (moving from proportional consolidation
to equity accounting). As a result, the prior year financial statements will be
re-presented to reflect this, reducing underlying operating profit for the
first half of 2013/14 by around £4 million, but with minimal impact on
underlying profit before tax.

Price review 2014

As part of the 2014 price review process, on 29 August 2014, Ofwat published
its draft determinations for UUW covering the period 1 April 2015 to 31 March
2020. UUW is engaged in detailed dialogue with Ofwat, alongside its on-going
discussions with other stakeholders, with particular focus on the wholesale
total expenditure differences between UUW's business plan and Ofwat's draft
determinations. UUW is scheduled to submit its response to the regulator by 3
October 2014. Ofwat is expected to publish final determinations on 12 December
2014.

United Utilities will announce its half year results on 26 November 2014.

Morgan Stanley Equal weight 807.00 808.00 865.00 875.00 Reiterates

I'm out today Skinny. 911.5 was too tempting. I've had a very good ride up from 646 last December so I can't complain.

Half Year Results

· Operational improvements delivering benefits for customers
o significant improvements in AMP5 on Ofwat's SIM measure recognised in draft determination
o upper quartile performance on Ofwat and Environment Agency KPI assessments
o good asset serviceability performance recognised in draft determination
o reinvesting c£280m of outperformance for the benefit of all stakeholders

· Continued effective delivery of capital investment programme
o strong capital delivery performance; Time: Cost: Quality index (TCQi) remains over 95%
o continued high levels of capital investment, expect to invest c£850m in 2014/15

· Good financials
o underlying operating profit up £3m to £343m, after c£13m one-off special customer discount
o RCV gearing at 57%, within Ofwat's 2010-15 assumed range
o interim dividend of 12.56 pence per share, in line with policy

· Further growth in Business Retail
o most successful new entrant in Scotland
o continuing to offer and develop a range of value-added services

OFWAT PUBLISHES FINAL DETERMINATION FOR UNITED UTILITIES

As part of the 2014 price review process, Ofwat has today, as scheduled, published the final determination for United Utilities Water Limited (UUW) covering the period 1 April 2015 to 31 March 2020.

UUW is reviewing this and has two months in which to consider and decide whether to accept its final determination.

Final Results

· Step change in performance in 2010-15 regulatory period delivers benefits for all stakeholders
o significant customer service improvements, as measured through Ofwat's SIM mechanism
o much improved delivery of capital investment programme; Time:Cost:Quality index above 95%
o investment totalling c£3.8bn over the five years, enhancing assets and services for customers
o upper quartile operational performance on Ofwat and Environment Agency KPI assessments
o strong shareholder returns and dividend policy delivered
o exceeded regulatory outperformance targets, enabling us to reinvest c£280m to benefit customers
o responsible business practice, reflected by Dow Jones Sustainability Index 'World Class' rating

· Strong 2014/15 financial performance
o underlying operating profit up £30m to £664m
o RCV gearing at 59%, well within our target range of 55% to 65%
o final dividend of 25.14 pence per share (total for the year of 37.70 pence), in line with policy

· Good platform to deliver further value in next regulatory period
o already a leading operational performer, providing a solid foundation for further improvements
o 'systems thinking' approach, leveraging technology and data intelligence to improve efficiency
o regulatory capital investment of £3.5bn+; network resilience, customer and environmental benefits
o robust capital structure and strong credit ratings
o dividend growth rate target of at least RPI inflation each year through to 2020
o below inflation growth in average household bills for the decade to 2020

Infected tap water in Lancashire 'must be boiled', authorities say
Panic buying of bottled water starts after United Utilities warn microscopic bug that can cause sickness and diarrhoea has infected all tap water across Lancashire.
Hundreds of thousands of people in Lancashire are being warned to boil their tap water before use to kill a microscopic bug.
Tests at a water treatment plant have found traces of cryptosporidium, which can cause sickness and diarrhoea.
The warning covers a large area of Lancashire including Blackpool, Preston, Chorley and the Fylde coast.
Water firm United Utilities are advising all customers to boil their water for all drinking, food preparation and teeth brushing as a precaution until further notice.
The alert sparked panic buying of bottled water, with stocks snapped up at supermarkets, shops and petrol stations across the county.
Residents can continue to use tap water without boiling for general domestic purposes such as bathing, flushing toilets or washing clothes.

http://www.telegraph.co.uk/news/health/news/11789187/Infected-tap-water-in-Lancashire-must-be-boiled-authorities-say.html

StockMarketWire.com
United Utilities said H1 reported operating profit will be impacted by customer compensation and one-off costs, totalling about £25m, relating to a water-quality incident.

In addition, restructuring costs of around £5m including costs relating to business retail market reform have been incurred in H1. These one-off items will be excluded from the underlying profit measures.

United Utilities said it was very disappointed that a significant water quality incident occurred this summer in parts of the Lancashire region. It continued to investigate, which it had sought to address at the time with precautionary and other measures. Full service was restored early September.

The underlying net finance expense for the first half of 2015/16 is anticipated to be around £20m lower on the year, reflecting the impact of lower RPI inflation on our index-linked debt and a lower rate of interest locked-in on our non index-linked debt.

Group revenue is expected to be similar to the first half of last year, as the impact of lower regulated revenue for 2015/16 is offset by slightly higher non-regulated sales. Underlying operating profit for the first half of 2015/16 is in line with management expectations, albeit lower than the first half of 2014/15. This reflects the new regulated price controls, an expected increase in depreciation and other costs, partly offset by a reduction in bad debts and regulatory fees.

It is anticipated that infrastructure renewals expenditure (IRE) in the first half of 2015/16 will be similar to the first half of last year. In line with our planned phasing, we expect an increase in IRE in the second half of 2015/16, compared with the first half of the year.

StockMarketWire.com
United Utilities has improved its H1 pretax profit to GBP215.6m, from GBP204.7m. It also hiked its interim dividend to 12.81p, from 12.56p. Revenue, however, was marginally lower at GBP857.0m, from GBP859.4m.

CEO Steve Mogford said:
"Our strong performance across 2010-15 means that we enter the next five-year period with good momentum. We were delighted to end last year as one of the top water and wastewater companies, as measured by Ofwat's recently published KPIs and the Environment Agency's latest assessment.

"Investment ahead of the 2015-20 period gave us a smooth start to our five-year programme, which we are accelerating to deliver further improvements for customers and the environment. We expect to invest around £800 million this year.

"Having delivered sector leading improvement in customer satisfaction over recent years, we were disappointed customers in parts of Lancashire were inconvenienced as a consequence of a water quality incident this summer.

"We restored water quality as quickly as possible and full service was resumed by early September. We paid customers compensation and this, along with associated costs, will be borne by the company. We are working closely with the Drinking Water Inspectorate on the incident who will issue its report in due course.

"Our progress over the first six months of this new regulatory period underpins our confidence that our targets remain tough but within reach. We are well placed to deliver further value for customers, shareholders and the environment underpinned by a robust capital structure and good credit ratings."

StockMarketWire.com
United Utilities said current trading is in line with the group's expectations for the year ending 31 March 2016.

"The 2015-20 regulatory price review means our customers are benefiting from lower prices, which came into effect on 1 April 2015, as well as continued substantial investment in our assets," it said in a statement.

Group revenue is expected to be marginally higher than last year, as the impact of lower allowed regulated revenue for 2015/16 is more than offset by higher than assumed volumes and an increase in sales in United Utilities non-regulated business.

Underlying operating profit for 2015/16 is in line with management expectations, albeit lower than 2014/15. This reflects the new regulated price controls, an expected increase in IRE, depreciation, employee and other operating costs, partly offset by a reduction in bad debts and regulatory fees.

In line with United Utilities' planned acceleration, IRE is expected to be around £20 million higher than last year.

Reported operating profit will be impacted by additional costs and asset impairments incurred in relation to the unprecedented flooding incidents which occurred during December 2015, although we expect these charges to be largely offset by insurance proceeds.

Overall, we do not expect these extreme weather events to have a material impact on United Utilities. In addition, as outlined previously, we incurred costs of around £25 million relating to the water quality incident last summer, which were recognised in the first half of the 2015/16 financial year.

Costs relating to business retail market reform are expected to be around £10 million for the full year, of which £5 million was recognised in the first half. To provide a more representative view of business performance, these adjusting items will be excluded from the underlying profit measures.

The underlying net finance expense for 2015/16 is anticipated to be around £20 million lower than 2014/15, reflecting the impact of lower RPI inflation on United Utilities' index-linked debt and a lower rate of interest locked-in on United Utilities' nominal debt.

As the company continues to invest in its asset base, we expect a modest increase in group net debt at 31 March 2016 compared with the position at 30 September 2015.

This principally reflects capital expenditure, payment of the 2015/16 interim dividend and payments in relation to interest and tax, largely offset by operational cash flows. Gearing remains comfortably within United Utilities target range of 55% to 65% net debt to regulatory capital value, supporting a solid A3 credit rating for United Utilities Water.

HALF YEAR RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2016


Highlights

· Further improvements in customer satisfaction: our best AMP6 score on Ofwat's service incentive mechanism

· Effective acceleration of capital investment continues: £383m invested in first half, c£800m planned for full year

· On track to meet our 2015-20 totex and outcome delivery incentives (ODI) targets

· Innovation and new technology through Systems Thinking approach driving further operational improvements

· Attained industry leading company status as measured by the Environment Agency

· Operating profit slightly ahead of last year

· Good financial performance, robust capital structure and effective pensions hedging

· Interim dividend of 12.95 pence per share, an increase of 1.1% in line with policy

More.....

Macquarie today reaffirms its outperform investment rating on United Utilities Group PLC (LON:UU.) and cut its price target to 1000p (from 1100p).

StockMarketWire.com
United Utilities has posted an improved FY pretax profit of £442.4m, up from £353.5m, in what it said was a strong performance.

Total dividend for the year was 38.87p a share, up 1.1% from 38.45p, and in line with policy. Revenue was £1.70bn, up from £1.73bn.

CEO Steve Mogford said this performance had enabled United to commit to a further £100m of additional investment in the region.

"This will support our resilience projects bringing additional customer benefits over the next three years," he said in a statement.

United had achieved its best ever customer satisfaction scores under Ofwat's Service Incentive Mechanism (SIM). "The acceleration of our investment programme continued delivering the early benefit of operational efficiencies and means we have de-risked a number of our Outcome Delivery Incentive (ODI) measures," said Mogford.

"This contributed to another net ODI reward and improves our likely cumulative outcome over the five-year period. Our Systems Thinking approach is unparalleled in the sector and is delivering a radically different way of managing our business.

"Our performance in the early part of this regulatory period puts us in an industry leading position and demonstrates that we are well placed to deliver further value for customers, shareholders and the environment. This is supported by a robust capital structure and good credit ratings."

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Er Stan - this is the United Utilities thread :-)

..Oh really some people -);

HSBC today reaffirms its buy investment rating on United Utilities Group PLC (LON:UU.) and cut its price target to 1000p (from 1070p).

Goldman Sachs today reaffirms its neutral investment rating on United Utilities Group PLC (LON:UU.) and set its price target at 778p.

StockMarketWire.com (27.03.18)
United Utilities said it expected to post a 'moderately' higher underlying profit for the year through March, in line with its expectations.

Revenue was expected to be 'slightly lower' than last year, which the company said reflected regulatory revenue changes, partly offset by a one-off accounting gain from its Water Plus retail joint venture.

Infrastructure renewals expenditure, meanwhile, had increased slightly in the second half of the year, although full-year spending was expected to be similar to last year, the company said.

Retail price index inflation increased this year and United Utilities said it was expected to increase the company's regulatory capital value by around £400m.

But since the company was hedged for inflation, there was also an impact of higher RPI inflation on its index-linked debt. Consequently, it expected its underlying net finance expense to be around £40m higher than last year.

A small increase in group net debt at 31 March 2018 was expected, compared with the position as at 30 September 2017.

United Utilities posted its half-year results for the six months ended 30 September on Wednesday, reporting underlying operating profit of £367.8m, up from £344m year-on-year. The FTSE 100 company said its interim dividend was in line with its AMP6 growth policy, declaring a distribution of 13.76p, up from 13.24p. Its board said it had a "robust" capital structure and strong pensions position, providing resilience and financial flexibility going forward.