Bristol Water owner set to see earnings rise 60%

BRISTOL Water owner Pennon has reported a “strong return to profitability” despite higher costs in the face of hot summer weather.

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The FTSE-250 water firm said it maintained “resilient” supplies of water despite high levels of demand due to the weather conditions.

It came as the company said it expects earnings to increase by 60% year-on-year, taking into account revenues deferred into the next financial year. Bosses stressed trading between April 1 and September 25 means the company is on track to meet expectations for the current financial year.