Severn Trent share price: Water utility updates on recent performance
Severn Trent (LON:SVT) has updated investors on its recent performance this morning.
**Highlights from the company statement:**
· Wholesale Totex (total expenditure) is expected to be £1,030 million to £1,060 million, of which 34.7% will be capitalised onto the RCV.
· Operating costs under IFRS are expected to be lower year on year due to the impact of the organisational changes and the supply chain efficiencies already announced.
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· We estimate net capital expenditure (cash) under IFRS will be £410 million to £430 million. In addition, we expect a further £125 million to £135 million of net infrastructure renewals expenditure, which will be charged to the income statement.
· In Business Services we continue to expect growth in revenues and PBIT year on year.
· The effective current tax rate for the group for 2015/16 is expected to be between 17% and 19%.
· The dividend is set to be 80.66p for 2015/16.
**More to follow…**
As of 06:55 BST, Wednesday, 15 July, Severn Trent Plc share price is 2,149.00p.