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Severn Trent maintains outlook after 'good start' to the year

Severn Trent said it was on track to deliver a previously announced £100mln reinvestment programme

Severn Trent
Severn Trent says its business plan is 'progressing well'

British water and waste company Severn Trent PLC (LON:SVT) left its outlook unchanged after making a “good start” to the year.

In a trading update for the period from April 1 to July 18, the utility said its performance had been in line with its previously announced guidance.  

“We have made a good start to the financial year and there has been no material change to current year business performance or outlook,” it said.

The group also said it was on track to deliver a previously announced £100mln reinvestment programme.

READ: Severn Trent unveils £100mln investment drive as full-year profits climb 4%

Severn Trent said its business plan for Ofwat's AMP7 requirements is “progressing well and we are confident we can present a plan this coming September which balances the needs of all of our stakeholders for the next regulatory period”.

Shares fell 1.5% to 1,852p in morning trading.  

Quick facts: Severn Trent

Price: 2315 GBX

LSE:SVT
Market: LSE
Market Cap: £5.51 billion
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