LONDON (ShareCast) - (Sharecast News) - Water utility Severn Trent said there had been no material change to its current year performance since a trading update at the end of January and maintained guidance for the full year.
The company on Tuesday said its liquidity position had been recently supplemented by ?200m of US private placement receipts in the week of March 23.

Severn said it was still on track to deliver at least ?25m of net customer outperformance payments for 2019/20 and now expected full year net financing costs to be broadly flat in comparison to last year.

It added that restrictions on movement implemented by the UK government to combat the coronavirus pandemic would have a material impact on many of the business customers of its joint venture company WaterPlus.

"The company has been making good progress on improving its underlying operating performance, however this new challenge will significantly impact the pace and certainty of its recovery plan," it said.

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