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Wales & West Utl Fin (51UQ)

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Friday 10 June, 2011

Wales & West Utl Fin

Annual Financial Report

RNS Number : 1889I
Wales & West Utilities Finance PLC
10 June 2011
 



Issuer: Wales & West Utilities Finance plc
Date: 10 June 2011

 

Wales & West Utilities Finance plc
(incorporated with limited liability in England & Wales with registered number 6766848)

 

Wales & West Utilities Finance plc ("WWUF") is a wholly owned subsidiary of Wales & West Utilities Limited ("WWUL").  The listed bonds issued by WWUF are unconditionally and irrevocably guaranteed by WWUL.

 

WWUL today announce their results for the year ended 31st March 2011.   Turnover fell slightly to £312.8m due to a £1.5m decrease in non regulated metering revenue received in the year, which combined with consistent costs has resulted in EBITDA of £120.4m; 1.1% decrease on the prior year.  Cashflow from operating activities has increased to £117.1m (2010: £114.7m), a 2.1% increase on the prior year.

 


2011

£m

2010

£m

 

Turnover

312.8

314.1

Operating costs (excluding exceptional items)

(113.9)

(112.5)

Exceptional items

1.1

(3.3)

Earnings before interest, tax, depreciation, amortisation and replacement expenditure



200.0

198.3



Replacement expenditure

(79.6)

(76.6)

Reported earnings before interest, tax, depreciation and amortisation (EBITDA)



120.4

121.7



 

 

WWUL, based in Newport, is one of eight regulated gas distribution networks in Great Britain. WWUL provides gas distribution services in an area in Wales and the South West of England covering some 41,000 square kms and serving 2.5 million supply points.

 

To obtain a copy of the Directors' report and financial statements for Wales & West Utilities Limited and Wales & West Utilities Finance plc please contact:

 

Email: [email protected]
Website:
www.wwufinanceplc.co.uk

 

If you have any further questions then please contact:

 

Adrian Breakspear
Wales & West Utilities Limited
Wales & West House
Spooner Close
Celtic Springs
Coedkernew
Newport NP10 8FZ

Tel: 02920 278841


This information is provided by RNS
The company news service from the London Stock Exchange
 
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