Troubled Thames Water has revealed it slumped to a £1.65 billion annual loss and saw its mammoth debt mountain balloon higher.
The utility tumbled to the pre-tax loss in the year to March 31 from profits of £157 million the previous year after it booked a £1.27 billion bad debt provision on intercompany loans and set aside £122 million for fines from Ofwat, among other costs.
