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Preliminary Announcement of audited results for the year ended 31 March 2002
30/05/2002
HIGHLIGHTS- Group profit before taxation and exceptional items up 15.8%
- Adjusted earnings per share increased 11.7% to 35.3p
- Strong performance from UK and US core water businesses
- Yorkshire Water outperformance increased
- improved service and compliance standards
- good operating results from Aquarion
- completion of US land sale
- Good progress on the focus strategy
- acquisition of New England American Water Works companies finalised April 2002
- non core business disposal programme completed
- Full year dividend increased 2.8% to 25.5p per share; final dividend 17.8p per share
| KEY FIGURES |
2002 |
2001 |
Increase |
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| FRS 3 Profit before taxation |
£197.14m |
£156.4m |
26.0% |
| Profit before taxation and non operating exceptional items |
£162.7m |
£140.5m |
15.8% |
| Earnings per share |
39.3p |
31.7p |
24.0% |
| Adjusted earnings per share |
35.3p |
31.6p |
11.7% |
| Dividend for the year |
25.5p |
24.8p |
2.8% |
| Group net debt |
£1,437m |
£1,395m |
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| Gearing ratio (stated after deferred tax) |
46% |
46% |
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| Interest cover |
2.6 |
2.4 |
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Following the announcement of Kelda group’s results for the year ended March 31 2002, the Executive Chairman, John Napier said:
"A year of solid achievement with continued improvement from core operations in the UK and US, completion of the disposal programme and further planned growth in the US. The company continues to benefit from our strategy of focus and improved management performance which we expect to maintain".
For further information contact
| May 30 |
Richard Emmott, Kelda Group |
0207 568 8732 |
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Andrew Grant/Nigel Fairbrass, |
0207 353 4200 |
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Tulchan Communications |
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| After May 30 |
Kelda Group Press Office |
01274 692954 |
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