Northumbrian Water have delivered a robust annual report showing a £27.8m rise in revenues in a challenging year of weather extremes.
The company, which serves 1.2m properties in the North East and 0.8m in Essex & Suffolk, saw turnover rise to £756.9m from £729.1m a year earlier, reflecting the application of Ofwat’s 2009 price review of 0.9% plus 5.2% RPI on water and sewerage charges.
The firm's Annual Performance Report, also showed capital investment in the business for the year to March 31 2013 was £232.9m.
The firm described its performance as “resilient” in the face of a challenging year of weather extremes, starting with drought conditions in early 2012.
In November 2012, the company drew the second £50m tranche of a £150m facility from the European Investment Bank at a fixed rate of 3.23%.
Chief executive officer, Heidi Mottram, said: “We are a long term business and we need to plan carefully so that we can continue to provide the services our customers want at a price they can pay.
“Our plan will identify the outcomes to be delivered based on customers’ priorities, the challenges we face and opportunities to improve service and efficiency."