City File: Severn Trent
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.ANOTHER cluster of water companies report this week, among them Severn Trent - by far the most acquisitive of the water utilities. In 1991 it bought Biffa, the waste disposal business, for pounds 214m, but operating profits have yet to cover the cost of the deal. However, Robert Miller-Bakewell of NatWest Securities believes the tide is turning and Biffa will go into the black in the next two or three years. Severn Trent's performance in its core business is relatively strong, in a sector overshadowed by the regulatory review to be completed next year, but it is unlikely to make another flood of acquisitions until Biffa has been sorted out. In the meantime, it should turn in flat or slightly increased profits and a full-year net dividend of 21p.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments