UTILITY Severn Trent today warned again over the impact of Labour’s plans to renationalise the industry as it posted a jump in profits.
Pre-tax profits at the firm, led by Liv Garfield, right, rose by almost 7% to £563 million for the year to March 31, despite a £22 million hit from last summer’s hot weather.
Revenues also grew 4% to £1.7 billion.
But the company said that growth would be dented under Labour’s proposals: “Any associated changes in government policy may fundamentally impact our ability to deliver the group’s strategic objectives, impacting shareholder value.”
