A major water supplier to businesses and homes in Gloucestershire has today reported a growth in profit of more than £20million.

Severn Trent Water has said it has had a positive year with a group turnover of £1,819million, which is up £66million on last year.

The group underlying profit before tax is up £22million making it a total of £525million.

Severn Trent CEO Liv Garfield said: "Customers are at the centre of everything we do and I am delighted that we have been able to deliver significant improvements in the things they care most about.

"Sewer floodings are down 21 per cent, and we have further reduced both supply interruptions and leakages.

"We have done this while maintaining the lowest bills in Britain.

"These results are testament to the hard work of my colleagues over the past year.

"Strong operational delivery resulted in net customer ODIs of £47.6million, alongside which we are helping more than 50,000 vulnerable customers.

"New digital technology and improved processes are key building blocks in driving our ambition to be upper quartile versus our peers.

"We are improving our efficiency and have identified a further £100million totex savings this regulatory period, taking total efficiencies to £770million.

"We are delivering both strong customer-focused and financial outperformance this regulatory period, and we feel it is now appropriate to share this with our investors.

"This year has had many highlights, however we know there is a lot of hard work needed to further improve our customers' experience when things go wrong and we are confident in our plans to deliver these improvements."

What do you think? Email mark@moosemarketingandpr.co.uk  

Picturecredit: Pixabay