United Utilities sees higher profit as office water usage rebounds

By Reuters

<div> <p> -Britain’s United Utilities said on Monday it expects higher first-half profit and revenue as workplace water consumption improves after the easing of pandemic curbs, while household demand remains high due to remote working.</p> <p>The company, one of the largest publicly traded water utilities in the country, said half-yearly underlying revenue is expected to rise by around 4%. It reported revenue of 894.4 million pounds for the six months ended September 2020.</p> <p>British water utilities had been struggling with a sharp drop in non-household consumption and rising defaults during the early stages of the pandemic. However, trends have improved since <span class="caps">COVID</span>-19 restrictions were lifted in mid-July. </p> <p>United Utilities said underlying profit would rise despite higher costs due to inflationary pressures.</p> <p>In May, the utility firm predicted marginally lower revenue for the year ending March 2022, because of regulatory changes in inflation accounting. </p> </div>