Severn Trent trades in line, 'on track' to meet environmental and operational targets.

Source: Sharecast

Severn Trent said it expects capital investment to come in toward the top end of its guidance range, supported by the benefits of insourcing and early scaling, but also reiterated that it remains on track to deliver at least £40m of reward from outcome delivery incentives and price‑control deliverables in the current year.

The FTSE 100-listed firm added that it had continued to improve its environmental performance year‑on‑year and was confident of securing a four‑star Environmental Performance Assessment for a seventh consecutive year.

Chief executive James Jesic said: "This has been a quarter of delivery in a period of strong growth, and I am proud of the contributions of the whole team. Having taken the reins as CEO, I'm meeting every Severn Trenter face to face, and it's brilliant to see the level of energy and focus the organisation has on delivering for our customers and communities.

"With our capital programme well underway, we remain on track to deliver on environmental targets and meet the financial guidance set out at our interim results. We have welcomed the Government's White Paper as a step in the right direction and look forward to further clarity on timing and implementation in the Transition Plan expected later this year."

Reporting by Iain Gilbert at Sharecast.com