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Pennon Group Annual Results Preliminary results published today (Thursday 5 June) by South West Water's parent group Pennon show the company delivering real benefits to customers while improving its financial performance. Exeter-based Pennon Group has announced profits before tax of £154.9 million in the last financial year.2007/08 also saw South West Water record its best ever water quality results, investing £170 million in capital improvements and maintaining its excellent record on leakage and water resources. Chief Executive Chris Loughlin said: "Look beyond the headline figures and you will see a company whose number one product – tap water – is better quality than ever, which has improved or maintained its already good record in many other areas and which invested more than £465,000 per day in the region's economy while protecting its environment. "Customers and our regulators rightly demand value for money and in the last year, we believe we have delivered that across the board as our top seven highlights illustrate. "To secure the finance to do all of that and reduce the burden on our customers, we have to offer our shareholders an appropriate return on their investment and maintain our reputation as an efficient and profitable company."
Published: 5 June 2008 Notes for Editors 1) Pennon operating profits increased to £242.1 million in 2007/08. South West Water reported an operating profit of £185.0 million while Viridor's figure was £58.1 million 2) Exeter-based South West Water employs 1,300 staff across the region and provides water and sewerage services to a population of 1.6 million across Devon, Cornwall and parts of Somerset and Dorset For further information please contact: |
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