Severn Trent FY24 Profit Rises, EPS Down; Proposes Higher Dividend

Source: FinanzNachrichten.de

BIRMINGHAM (dpa-AFX) - Severn Trent Plc (SVT.L), a provider of clean water and wastewater treatment services, Wednesday reported that its fiscal 2024 profit before tax climbed 20 percent to 201.3 million pounds from last year's 167.9 million pounds.

Profit for the year grew 6.1 percent to 140.2 million pounds from 132.2 million pounds a year ago.

Earnings per share, meanwhile, fell to 50.9 pence from 52.5 pence last year.

Adjusted profit for the year was 218.2 million pounds, compared to 146.0 million pounds last year. Adjusted basic earnings per share were 79.4 pence, compared to prior year's 58.2 pence.

Group turnover was 2.34 billion pounds, up 8 percent from last year's 2.17 billion pounds, driven mainly by higher revenues in Regulated Water and Wastewater business.

Further, the company said the Board has proposed final ordinary dividend per share of 70.1 pence, up from last year's 64.09 pence, payable on July 17 to shareholders on the register at May 31. This gives a total ordinary dividend for the year of 116.84 pence, up from 106.82 pence a year ago.

For fiscal 2025, the company plans dividend of 121.71 pence, in line with its policy of annual growth by CPIH.

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