Preliminary Announcement of audited results for the year ended 31 March 2003
05/06/2003
HIGHLIGHTS
Group turnover up 4.8% to £690.5m
Group profit before taxation and exceptional items up 7.7% to £175.2m
Adjusted earnings per share (excluding deferred tax) increased 8.4% to 42.4p
Strong performance from UK water business increases prospective financial out-performance in the current price determination period
Ofwat assessment confirms Yorkshire Water’s sector leading operational and environmental performance
Growth from earnings enhancing acquisitions in Aquarion US water business
Full year dividend increased 2.2% to 26.05p per share; final dividend 18.19p per share
KEY FIGURES
2003
2002
Increase
Group turnover
£690.5m
£658.8m
4.8%
Group operating profit
£265.3m
£245.0m
8.3%
Profit before taxation and exceptional items
£175.2m
£162.7m
7.7%
Adjusted earnings per share (excluding deferred tax)
42.4p
39.1p
8.4%
Dividend for the year
26.05p
25.50p
2.2%
Group net debt
£1,720m
£1,437m
Following the announcement of Kelda group’s results for the year ended 31 March 2003, the Chairman, John Napier said:
“Strong operational and financial performance in the Yorkshire Water business and the successful acquisitions in the US by Aquarion contributed to growth in profit before tax and exceptional items of 7.7%”
