- Report of the Auditors on the Group financial statements
- Consolidated income statement
- Consolidated statement of recognised income and expense
- Consolidated balance sheet
- Consolidated cash flow statement
- Notes to the consolidated financial statements
- Directors’ responsibilities (Company)
- Report of the Auditors on the Company financial statements
- Company balance sheet
- Notes to the Company financial statements
- Shareholder information
Highlights
Revenue 2009 (2008: £670.4m)
£694.1m
Profit before interest 2009 (2008: £277.8m)
£273.6m
Profit before tax 2009 (2008: £170.3m)
£152.7m
(Loss)/profit for the year 2009 (2008: £158.3m)
(£11.9m)
- Revenue increase mainly reflects the uplift in tariffs to support continuing high capital investment
- Energy costs are over 50% higher than last year, well above the level assumed at the last price review
- Increased interest charges reflecting higher RPI on index linked bonds (£6.2 million) and increased pension financing costs (£7.4 million)
- Deferred tax includes a one-off charge of £117.2 million following the withdrawal of industrial buildings allowances in the Finance Act 2008
- Current funding is sufficient to meet all of the Group’s requirements through to 2011
- Regulated capital investment in the period of £228.9 million (2008: £232.6 million) is delivering regulatory outputs, an extended sewer flooding programme and the advanced digestion plant at Bran Sands
- Planning permission for the expansion of Abberton reservoir granted
- Continued high levels of customer satisfaction
- Proposed final dividend of 8.50 pence (2008: 8.07 pence) per share to be paid on 11 September 2009, giving a full year ordinary dividend of 12.79 pence (2008: 12.07 pence) per share, an increase of 6%
- External recognition of performance through awards, most notably ‘The Queen’s Award for Enterprise: Sustainable Development’ and ‘Utility Company of the Year’
