Canadians’ £1.7bn play for water firm January 31, 2010 ONE of Northumbrian Water’s largest shareholders is thought to be preparing a £1.7bn bid to take the FTSE 250 company private. Ontario Teachers’ Pension Plan (OTPP), which has also been linked to a buyout of private equity-owned Acorn Education and Care, holds 27 per cent of Northumbrian Water. It is understood to have begun negotiations [...]
THE TIPSTER January 31, 2010 FRIDAY’S upbeat house price data from the Nationwide was well received by home owners, but it might only last for the short-term. Whether the upward trend in home values can be sustained for any length of time is clearly open to debate. The prospect of rising interest rates threatens to squash demand as mortgage repayments [...]
United Utilities feels the pressure in the recession November 25, 2009 UNITED UTILITIES, the biggest water company in the UK, yesterday said its profit had risen by one per cent to £370m, but that it had been hit by tumbling demand from businesses and homes in the downturn. Turnover rose 0.5 per cent to £1.2bn in the six months to 30 September, and the group proposed [...]
Bill cuts will drain Thames Water payout November 23, 2009 THAMES WATER would be forced to abandon paying a dividend altogether if the water regulator does not alter its push for lower bills. The UK’s biggest water supplier has informed its owners, Macquarie Bank of Australia and a range of pension funds, that they face missing out on a £200m return next year, a source [...]
Water firms hit by Ofwat July 23, 2009 SHARES in utility companies dropped yesterday after water regulator Ofwat ordered firms to reduce household bills by four per cent over the next five years, potentially denting profits massively. Analysts warned that Ofwat’s price limits combined with new requirements on infrastructure spending would see dividends slashed across the sector. Water firms had hoped to raise [...]
Water firms hit by Ofwat July 23, 2009 SHARES in utility companies dropped yesterday after water regulator Ofwat ordered firms to reduce household bills by four per cent over the next five years, potentially denting profits massively. Analysts warned that Ofwat’s price limits combined with new requirements on infrastructure spending would see dividends slashed across the sector. Water firms had hoped to raise [...]
CAUSING A SPLASH June 3, 2009 UTILITY Northumbrian Water (NWG) said its full-year pre-tax profits slumped by 10.3 per cent to £152.7m in the year to 31 March, as high energy costs and a fall in demand, particularly from industrial customers, hit the company. NWG, which supplies water and sewage services to North East England, said its sales were up four [...]