Water services firm United Utilities recorded a "strong financial performance" in the six months to September 30, maintaining a "robust balance sheet" as recruitment continues.
The Warrington-based company said it was "playing a key role in the regional economy", and despite revenue dropping from £935.5m to £894.4m, operating profits rose from £318.5m to £383m.
Elsewhere, the firm said its pension schemes were fully funded on a low dependency basis, also holding a "stable" credit rating with Moody's.
No employees are furloughed, with the firm said to be helping 142,000 customers "facing financial difficulties through support schemes".
In the results released on Wednesday morning, the company said it had invested an additional £130m during the 2019/20 year.
Steve Mogford, CEO, said: "Our focus throughout the COVID-19 pandemic has been on supporting customers, protecting our colleagues and maintaining essential services. We have continued to provide high quality water and wastewater services to more than three million households in the North West thanks to the extraordinary hard work and dedication of my colleagues, many of whom are key workers.
"Average customer bills have reduced by 7% in real terms this year but we recognise that for many in our region, these are still challenging times. For those struggling to pay their bills, we offer the sector's widest range of financial assistance schemes.
"We have also acted swiftly to increase the number of customers eligible for reduced tariffs."
Mr Mogford said that despite the pandemic, our operational performance in this first year of the new regulatory period is on track.
He added: "We are accelerating our capital expenditure to bring forward benefits and help support 17,700 jobs in the supply chain. We recognise the role that we can play in a successful society, economy and a thriving natural environment and are confident in our ability to deliver our AMP7 plans to achieve this.
"We now have a clearer understanding of the impact of COVID-19 on our business which remains robust and supported by a strong balance sheet. This, together with a stabilised inflation outlook supported by central bank policy and government actions, gives us the confidence to reaffirm our responsible AMP7 dividend policy of growth in line with CPIH inflation."
