Pennon increases 2013/14 final dividend by 6.2%

DividendMax Ltd.

Pennon increases 2013/14 final dividend by 6.2%

FINANCIAL HIGHLIGHTS 

 

 

 

 

 

·    

Profit before tax up 9.1% to £207.3m

 

 


-

South West Water up 10.8% to £162.5m

 

 


-

Viridor down 19.5% to £27.6m

 

 



-

Viridor PBIT + JVs down 4.6% to £43.6m

 

 



-

Viridor EBITDA down 1.8% to £76.3m

 

 

·    

Net exceptional charges £48.6m (post tax £39.7m)

 

 

·    

Earnings per share up 5.7% to 42.6p

 

 

·    

Dividend

 

 


-

Full year dividend up 6.5% to 30.31p

 

 


-

Recommended final dividend per share up 6.2% to 20.92p

 

 

·    

Strong liquidity and funding position

 

 


-

£640m new/refinanced facilities since 31 March 2013

 

 


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£1,303m cash/committed facilities at 31 March 2014

 

 


-

Average cost of debt reduced to 3.8%

 

 

·    

Substantial progress in delivery of major capital programmes                             

 

 


-

South West Water capex up 22% - target efficiencies delivered

 

 


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Viridor - 70% of spend now complete on EfW projects under construction

 

 

·    

Group businesses well positioned for the future

Companies mentioned