Waste targets to be met and water in line
Pennon’s full-year trading update confirmed it is performing in line with market and management expectations. South West Water (SWW) is on track to deliver an 11.7% return on regulated equity (RORE) and management maintains its current-year guidance for a £100m contribution from Viridor’s energy recovery facilities (ERFs). Management highlights outperformance in the water business as driven by efficiencies, while company-wide revenue growth is provided by the Viridor waste business. It is this combination that enables the sector-leading dividend policy of growing the payout by 4% above inflation.Pennon Group is an environmental infrastructure company in the U.K. Co. operates two businesses: water and wastewater, and waste management. As of Mar 31 2017, Co.'s water and wastewater business provided water and wastewater services to a population of 1.7 million in Cornwall, Devon and parts of Dorset and Somerset and water only services to 500,000 in parts of Dorset, Hampshire and Wiltshire. At its waste management business, Co.'s Viridor Limited subsidiary is a recycling, energy recovery and waste management company, and at Mar 31 2017 provided services to more than 150 local authorities and corporate clients as well as over 32,000 customers across the U.K.
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