Water company sees its revenues rise to £1bn

REVENUES at Northumbrian Water Group have topped £1bn in a year in which profits increased significantly.

- GRAEME WHITFIELD

The company supplies water and sewage services to about 2.7 million people across the North East and a further 2.4 million across Essex and Suffolk.

Accounts for the company for the year ending March 31 show that revenue rose from £952.4m to £1.04bn, while profit for the year increased from £24m a year earlier to £83.4m.

The company revealed that it had hit 12 of its 17 internal targets on customer service, the environment, people, communities and competitiveness, though benchmarks on leakages and discharges were among those not met. In June it agreed payments worth £15.7m to water regulator Ofwat for allowing sewage discharges into rivers and the sea.