Company
United Utilities Group PLC
LON:UU.
United Utilities Group Plc (United Utilities), formerly United Utilities PLC, is a United Kingdom-based company. The Company’s regulated subsidiary, United Utilities Water PLC (United Utilities Water), holds licenses to provide water and sewage services to a population of some seven million people in north west England. United Utilities also applies its capability in operating utility infrastructure in competitive markets. The Company’s revenue arises from the provision of services. It is organized into two principal operating divisions: regulated and non-regulated activities. Regulated activities comprise the regulated activities of United Utilities Water (water and wastewater). Non-regulated activities, the Company apply the core utility skills of the regulated business through outsourcing contracts. In addition, this segment includes its interests in Northern Gas Networks and its overseas businesses.
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FTSE 100 falls back again at the close
The FTSE 100 saw another day of losses that drove the index to close below the 7,600 level
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Water regulator brings forward clean-up schemes as sewage anger rises
Government to unveil its ’plan for water’ tomorrow
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Water companies in firing line again over sewage dumping
The Surfers Against Sewage charity identified 9,216 sewage pollution alerts at 450 popular bathing spots
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United Utilities and Severn Trent overhung by pollution and debt issues
Ofwat has fined several water companies for missing sewage discharge targets
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Water companies maybe liable for £163mln in compensation for sewage spills - and maybe more
The water companies may have “elected to exploitatively abuse their dominant position, not by setting excessive prices, but providing an excessively low quality of service”
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United Utilities target price downgraded by Credit Suisse
The Swiss bank's analysts said they have reduced their 2023 EPS estimates for UU from +8.2p to -3.0p, mainly reflecting a -1% year-on-year drop in revenues (previously +1%) and around £30m higher operational costs
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Eleven water suppliers fined £150mln for poor performance
Ofwat said the penalties reflected commitments made during the last price review in 2019.
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United Utilities issues profit warning on lower consumption and higher costs
Rising inflation and higher power prices have resulted in higher cash operating costs and increased non-cash indexation on the group's index-linked debt
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United Utilities sells off renewable energy assets for £100mln to SDCL trust
The company said its regulated water and wastewater business will continue to benefit from these assets following divestment
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United Utilities, Wickes top Thursday's agenda
A few big names go ex-dividend tomorrow, with payments due from Intertek, Sage, Whitbread and Imperial Brands
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United Utilities appoints Louise Beardmore as CEO designate
It would make her the ninth CEO of a FTSE 100 company based on current numbers
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United Utilities on track to achieve full-year forecast
United Utilities has forecast a net increase in revenue of about 3% for the full year, but said the underlying operating profit will remain broadly the same from a year earlier as inflation puts pressure on its core costs
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United Utilities boosted by higher consumption as businesses open up after lockdown
The water company forecast revenue growth of 2% for the year to end-March 2022
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United Utilities says household consumption remains high as working from home trend continues
Interim revenue and profits will be ahead of last year's levels
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United Utilities revenues fall in challenging COVID-19 period
The number of people eligible for extra financial support has been increased
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United Utilities says revenues to dip slightly on COVID-19 impact
Lower consumption from businesses has been largely offset by higher consumption from households
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United Utilities expects full-year revenue dip with lower household consumption during winter
The impact on non-household revenue is expected to be broadly consistent with the first half as many businesses remain closed
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UK spending review to hold attention on Wednesday; United Utilities to deliver interims
Markets will likely be eyeing any news from Chancellor of the Exchequer Rishi Sunak regarding the government's plans to tackle its ballooning debt as well as any coming investments and economic support measures
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United Utilities sees revenue and profit leak lower due to pandemic
Current trading was said to be in line with the group's expectations
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FTSE 100 losses continue through the close
While today’s job support schemes push the potential cliff-edge for employment back to January, there appears to be a tacit acknowledgement that more will be forthcoming,” said Chris Beauchamp at IG.
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United Utilities ups dividend despite fall in profits
The water company said it “will review the dividend policy for AMP7 as a clearer picture of the post Covid-19 economic environment emerges”
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United Utilities reassures on liquidity but coronavirus crisis inflates pension surplus
The water company's liquidity position extends out for 24 months, meaning the business should be “well protected against financial shocks that may be experienced as a result of the outbreak in the short to medium term”
United Utilities and Bellway among expected announcements for Wednesday
With the FCA having thrown company results schedules into doubt, United Utilities will be one of the few firms sticking to the original timetable with a pre-close trading update at the mid-point of the week
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Citigroup turns off the 'buy' tap for United Utilities, cutting its rating to ‘neutral’
The Citi analysts said they believe water companies "are now fully priced on fundamentals, including operational and financial outperformance”
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United Utilities gets double upgrade to ‘buy’ as Jefferies says regulation changes ‘better than expected’
The broker said the FTSE 100 group was likely to see an 8% ‘stepdown’ in earnings per share for its 2021 financial year, as opposed to their previous estimates of a 31% decline
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Stage set for a snappy Queen's speech and unchanged interest rates on Thursday
No company announcements on Thursday, meaning interest rates and the Queen's speech will take centre stage
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Ocado, TUI and Balfour Beatty seek investor votes in election week
There's also Fed and ECB meetings and results and update in the coming week include Ashtead, Serco, Stagecoach and Superdry
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United Utilities up as earnings rise on regulatory outperformance
United said it outperformed on its outcome incentives set by Ofwat in the six months to the end of September, which meant it raked in an extra £21mln
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FTSE 100 closes sharply lower as US jobs fail to inspire; RBS top laggard
"The [jobs] report will more than likely be brushed aside as Fed Chair Powell and US President Trump continue to clash horns in a power struggle," said Nick Kilbey, a sales trader at Foenix Partners
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London-listed water firms could be at risk of losing their dividend perk
A new package of regulations from Ofwat will force water companies to maintain ringfenced cash balances, even if it means cutting investor pay outs
Builders and building materials
United Utilities awards first maintenance outsourcing contract to Costain
Costain said the five-year contract will be worth roughly £35mln per year and has an option to extend to ten years
Investments and investor services
FTSE 100 closes higher as global markets buoyed by Fed's hint on rates
Carnival and Evra were the two big fallers among Footsie constituents
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After Federal Reserve decision, ECB boss comments, Bank of England expected to stand pat on rates
Aside from the BoE Monetary Policy Committee decision, the Day Ahead will also bring updates from two mid-cap retailers - Dixons Carphone and N Brown Group
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United Utilities loses operations chief Steve Fraser to Cadent Gas
Fraser, who has been at the FTSE 100 group for 14 years, will leave in the autumn
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Federal Reserve rate decision to dominate in week ahead, with BoE meeting likely to be dull
The corporate diary is fairly sparse, but there are some bright spots, notably updates from refocused blue chip hotels group Whitbread and housebuilder Berkeley Group
Investments and investor services
FTSE 100 closes lower on day but up slightly on week as trade tensions still weigh
The UK's index of leading company shares closed Friday down nearly 23 points at 7,345
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Johnson Matthey's final results provide a step up in class for Thursday's corporate diary
The Day Ahead will also bring updates from two FTSE 250-listed firms, transport operator FirstGroup and water utility Pennon, plus numbers from newspapers group Daily Mail
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Enjoy the UK bank holiday, because there will be little else to get excited about in the coming week
The shortened trading Week Ahead will only bring updates from the likes of second-liners FirstGroup, Pennon, Wizz Air, and Daily Mail & General Trust
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United Utilities turns up the tap on investment and dividends
The water supplier hiked its total dividend 4% to 41.28p per share
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United Utilities and Intertek Group to be in focus on a busy Thursday
United Utilities, Intertek, Mitchells & Butlers, TalkTalk Group, and Tate & Lyle are all in the schedule for Thursday.
Investments and investor services
FTSE 100 closes higher as trade tensions ease
The UK's premier shares index closed up around ten points at 7,320
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Severn Trent to kick off water sector updates on Tuesday; retailers also in focus
The Day Ahead will bring trading updates from the likes of stores groups Halfords, Topps Tiles, and WH Smith
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Deutsche Bank waters down targets for United Utilities, Severn Trent and Pennon
Its analysts also trim forecasts as they believe that a cut to allowed regulatory returns is likely and incentive packages are “tougher than expected”
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JPMorgan Cazenove pulls the plug on both Severn Trent and Pennon in a cautious water sector review
The US bank’s analysts downgraded ratings for both blue-chip Severn Trent and its mid-cap peer Pennon to ‘neutral’ from ‘overweight’ and reduced their target for United Utilities
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United Utilities says current trading in line with expectations but annual profits to be impacted by costs relating to dry summer of 2018
In a trading update, the FTSE 100-listed water firm said it will book exceptional items of £52mln for its year ending 31 March, of which £29mln was recognised in its interim results
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FTSE 100 closes higher as global growth fears ease, but Carnival shares sink
The UK's premier index closed up nearly 19 points at 7,169, while FTSE 250 added over 96 at 8,896
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Fizzy drinks on the table as Fevertree Drinks and AG Barr both provide updates
Aside from the fizzy drinks firms, the Day Ahead will also bring updates from plumbing and heating products supplier Ferguson and North West Water firm United Utilities
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United Utilities downgraded to ‘hold’ from ‘buy’ by Deutsche Bank on valuation grounds
Deutsche Bank’s analysts said "we believe that UK political uncertainty is rising again as the Brexit negotiations come to a head with growing downside risks”
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Citigroup cuts United Utilities to ‘neutral’ from ‘buy’ after 12-month target price reached
“From a regulatory perspective, barring any unexpected movement on the final allowed WACC (December) and operational targets (April), we essentially have regulatory clarity, to a large part, until 2025," Citigroup analysts said
FTSE 100 closes in the red as Federal Reserve's rate hike creates jitters
"Investors aren’t willing to forgive Fed Chair Jeremy Powell yet; a soft open on Wall Street threatens to drag the FTSE lower into the close," said Fiona Cincotta at City Index
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Bank of England unlikely to follow Fed rate hike lead after last monetary policy meeting of 2019
Recent weak economic data, a general malaise on Brexit and the febrile political environment is now likely to lead to UK policymakers to take more of a ‘wait and see’ approach
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Fed could be Grinch-like in final full trading week before Christmas, but BoE seen more festive
Aside from the UK and US rate decisions, the latest UK inflation and retail data will be closely eyed as well in the absence of almost anything on the corporate diary
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RBC Capital slashes forecasts for water companies on upcoming regulatory changes
Ofwat’s Price Review 2019 is likely to limit how much extra money companies can earn through outcome delivery incentives, while AMP7 will likely require them to invest heavily into infrastructure
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United Utilities first-half earnings jump boosted by lower costs and regulator incentives
The FTSE 100-listed firm said its underlying pre-tax profit rose by 23.7% to £240.3mln for the six months to September 30, up from £194.3mln a year earlier, helped by lower net financing costs
FTSE 100 closes firmly to the good despite EU tensions
Mid-cap cousin FTSE 250 was also higher. It surged over 218 points to close at 18,584.