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.

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.