Severn Trent's profits soar as bills jump 21%

SEVERN Trent's profits surged last year before the water giant hit consumers with a more than one-fifth annual increase in bills in April.

- ALEX DANIEL

The company, which supplies water and sewage services to more than 4.7 million households and businesses across the Midlands and Wales, increased bills by an average of 21% this year.

That roughly equates to a £99 annual increase, with the average household now paying £556 over the course of the year.

Severn Trent said the sharp increase in bills would help fund about £15 billion in investment to upgrade its network of pipes, sewers and reservoirs over the next five years.