Highlights
· Good financial performance:
o Adjusted EPS up 15.9% year on year
o Underlying group PBIT £540.3 million, up 3.2% year on year
o Reported group PBIT up 2.6% year on year
· Focus on operational improvement
o Improved or stable performance on 12 out of 14 Ofwat KPIs year on year
o Achieved target of 10% reduction in leakage over AMP5
· Invested a further £547.4 million to complete AMP5 programme of £2.6 billion; RCV £7.7 billion at April 2015
· Customer bills remain the lowest in Britain at an average combined bill of £329 for 2015/16
· Severn Trent Services re-focused - disposal of Water Purification business (US$ 81.2 million)
· Industry leader in renewable energy - self generation equivalent to 28% of Severn Trent Water's energy needs
· Reported group PBT £148.2 million, reflecting fair value losses on financial instruments
· Well positioned for AMP6
o Largest investment programme ever - £3.3 billion capital investment
o New organisational structure and management team
o £300 million of £372 million target efficiencies already locked in
o Focused on outperformance
o 2015/16 dividend 80.66 pence, followed by annual growth of no less than RPI until 2020
