SEVERN TRENT PLC
TRADING STATEMENT
24 March 2009
Severn Trent is issuing the following trading update prior to the announcement
of its preliminary results on Friday 29 May 2009 for the year ended 31 March
2009.
There has been no material change to business performance or outlook since the
Interim Management Statement published on 27 January 2009. The Board considers
that the Group will deliver trading performance consistent with its
expectations and prior guidance.
Prior guidance included:
* 2008/09 operating expenditure and planned operating cost savings of £30
million over 2008/09 and 2009/10 on track,
* AMP4 capital expenditure in line with the Board's expectations, with gross
capital expenditure (UK GAAP) for 2008/09 around £650 to £670 million,
including net infrastructure renewals of £120 to £130 million, and
* A decline in consumption across our measured income base, estimated to
impact year-on-year revenues in 2008/09 by around £20 to £25 million.
Given the proximity in dates between the requirement to release an Interim
Management Statement and our 31 March year end, the Board has decided not to
release pre-close announcements in the future.
ENQUIRIES:
Mike McKeon Severn Trent 0121 722 4319
Group Finance Director
Venetia Cooper Severn Trent 0121 722 4523
Investor Relations Manager
Peter Gavan Severn Trent 0121 722 4310
Director of External Affairs
Mal Patel Tulchan 0207 353 4200
Peter Hewer
Footnotes:
This document contains certain "forward-looking statements" with respect to
Severn Trent's financial condition, results of operations and business and
certain of Severn Trent's plans and objectives with respect to these items.
Forward-looking statements are sometimes, but not always, identified by
their use of a date in the future or such words as "anticipates", "aims",
"due", "could", "may", "should", "expects", "believes", "intends", "plans",
"targets", "goal" or "estimates". By their very nature forward-looking
statements are inherently unpredictable, speculative and involve risk and
uncertainty because they relate to events and depend on circumstances that
will occur in the future.
There are a number of factors that could cause actual results and
developments to differ materially from those expressed or implied by these
forward-looking statements. These factors include, but are not limited to,
changes in the economies and markets in which the Group operates; changes
in the regulatory and competition frameworks in which the Group operates;
the impact of legal or other proceedings against or which affect the Group;
and changes in interest and exchange rates.
All written or verbal forward-looking statements, made in this document or
made subsequently, which are attributable to Severn Trent or any other
member of the Group or persons acting on their behalf are expressly
qualified in their entirety by the factors referred to above. Severn Trent
does not intend to update these forward-looking statements.
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