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United Utilities Group reports a fall in profit after tax in latest results announcement
StockMarketWire.com
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United Utilities Group PLC announced a fall in profit after tax in its annual results announcement for the year ended 31 March 2021.
The water services company, based in the north of England, reported an underlying profit after tax of £383m, down 21% from last years announcement.
For the year to March 2021, the group announced revenue earnings of £1.8 billion, £1.9 billion lower than the previous year.
The company also reported a 4.3% return on regulated equity for the year 2020/21 and a total dividend of 43.24p.
United Utilities confirmed it has exceeded targets for 2020 by reducing emissions by 73% and will deliver carbon pledges to net zero by 2030.
Steve Mogford, the company's CEO, said: 'Protecting and improving the environment is one of our core responsibilities, including the quality of the water we return to our rivers and coastlines. We also have a duty to respond to climate change, which is why we've planted two million trees since 1995 and plan to plant another million by 2030. We've also spent £250 million to make our services more resilient to changes in weather patterns.
'We're delighted to be a signatory to the United Nation's Race to Zero campaign and to be targeting net zero by 2030. In support of this, we're delivering on our six carbon pledges, including a commitment to meet our science-based targets, to have a completely 'green' fleet of vehicles by 2028 and to restore 1,000 hectares of peatland by 2030.'
Story provided by StockMarketWire.com
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