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United Utilities Group PLC on Wednesday said it expects earnings per share for the financial year to March 31 to meet guidance, as it reported an accounting change. The Warrington, England-based water company sees underlying earnings per share for the financial year at around 100 pence. This would represent a more than doubling of the prior financial year’s 49.6p. The company noted this expectation is before its accounting change. United Utilities said it is implementing changes in the estimation technique used to measure inflationlinked debt. It said this move will smooth the effect of unusually low or high inflation over the remaining life of the debt, and is anticipated to lower volatility in its income statement. The company said the reporting change will take effect in its financial 2026 statements, and sees it leading to a reduction in underlying net finance expenses of around £35 million. It also expects an increase in underlying EPS of about 5p. United Utilities said its underlying cost guidance remains unchanged. Shares in the company were trading 2.8% higher at 1,287.50 pence on Wednesday morning in London. ‘Looking beyond 2025/26, our electricity hedging levels remain above policy minimums, reflecting proactive execution during the benign market conditions experienced in the third and fourth quarters. As at the date of this statement, we are fully hedged for summer 2026 and over 90% hedged for winter 2026/27,’ the company noted. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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