Price review prospects cool interest in water - ic Wales- Need Cash Pay Bills
The flurry of acquisitions focused attention on Northumbrian Water, South West Water owner Pennon, United Utilities and Severn Trent – the listed firms left from the 10 regional English and Welsh water companies that emerged on privatisation in 1989. United Utilities, which operates water, wastewater and electricity networks in the North West, is forecast by Merrill Lynch to announce pre-tax profits of £463m tomorrow, an increase of 7% on a year earlier. Ryanair boss Michael O’Leary – who warned in February of the “perfect storm” facing airlines from soaring fuel and failing consumer confidence – has also slapped a pay freeze on senior managers and none of the firm’s top 36 managers will get a pay rise unless oil prices fall. For the year to March, analysts at UBS are predicting an 18% rise in earnings before interest and tax to 559 million euro (£440m), but say profits for the current financial year are set to fall to virtually a third of this level – 206 million euro (£162m) – due to the surging fuel bill. Learn more
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