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The Latest Breaking News from Pennon

Pennon swings to profit after water bill hikes and summer heatwave

The owner of South West Water revealed the improved financial performance despite coming under fire for wastewater spills earlier this year.

Evening Standard

South West Water owner names next chief executive

Keith Haslett, who is currently chief executive of Affinity Water, is set to take over next year.

The Independent UK

Brighter US outlook fires up European stocks

The FTSE 100 index closed up 70.85 points, or 0.8%, at 9,284.83.

Evening Standard

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Pennon to return to profitability despite pressure from summer heatwave

The South West Water owner said it expects earnings to increase by 60% year-on-year.

Evening Standard

Boss of South West Water owner Pennon to retire

Susan Davy said she will step down as chief executive and director on the South West Water parent firm’s board after 18 years with the firm.

Evening Standard

Pennon water boss lands nearly £200,000 in share bonuses despite losses

The water firm revealed that chief executive Susan Davy was handed £191,000 in long-term share awards, with a total annual pay package of £803,000.

Evening Standard

South West Water owner Pennon says losses deepened after Devon parasite outbreak

Last year’s incident in Brixham, south Devon, cost it about £21 million, pushing it deeper into an annual loss, it said.

Evening Standard

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Thames Water appoints new finance boss

Former Pennon CFO Steve Buck will join Thames Water next week at a ‘pivotal’ moment for the heavily indebted utility.

The Independent UK

Pennon costs surge to £36m after South West Water parasite outbreak in Devon

The outbreak in May last year left some people in hospital and hundreds ill after contamination of the water supply in Brixham.

Evening Standard

Water boss admits ‘devastating’ impact of parasite outbreak while pay rises

Pennon’s chief executive Susan Davy said her base salary was rising from £494,000 to £511,000 this year.

The Independent UK

FTSE 100 closes short of record levels despite further gains

London’s top index finished 23.94 points higher to end the day at 8,557.81.

The Independent UK

United Utilities and Pennon to increase dividend payments as water bills rise

Both will raise dividends in line with inflation, as South West Water and United Utilities bills to increase 23% and 32% over five years

The Guardian - UK

United Utilities and South West Water hike dividends amid bill increases

The companies said they had agreed 32% and 23% bill increases negotiated with regulator Ofwat last year.

The Independent UK

FTSE slumps as Bank of England holds interest rates

The FTSE 100 finished 93.79 points, or 1.14%, lower to end the day at 8,105.32.

The Independent UK

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Evening Standard

Pennon losses widen after South West Water’s parasite outbreak in Devon

London-listed company Pennon said the incident in Brixham, south Devon, cost it £16.3 million, contributing to deepening first-half losses.

The Guardian - UK

The best long-term plan for Thames Water is to get it back on the stock market

The discipline of being a listed company should mean an end to the days of ultra-high leverage and opaque corporate structures

The Guardian - UK

Global heating will increase risk of parasite outbreaks, say South West Water owners

Pennon Group annual report lists dangers to water quality posed by higher temperatures

The Guardian - UK

Severn Trent boss paid £3.2m despite firm’s fine for sewage spills in river

Liv Garfield’s pay included a £584,000 bonus despite firm’s £2m fine for spilling 260m litres of sewage into River Trent

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The Guardian - UK

South West Water owner’s boss should lose all bonuses after Devon parasite outbreak

Pennon boss Susan Davy gave up part of pay for a second year, but she should also miss cash from long-term incentive plan

The Independent UK

South West Water hands boss huge pay hike despite pollution soaring

The pay details come as the group also revealed that pollution incidents at South West Water soared by 80% in 2023

Evening Standard

Pennon chair to go weeks after Devon water contamination scandal and dividend outcry

Gill Rider to leave the firm that recommended a £127 million investor payout days after water supply made scores of people ill

The Guardian - UK

Boss of South West Water’s owner gains £300,000 pay rise

Pay rise for Pennon Group CEO Susan Davy comes despite outrage over Devon diarrhoea outbreak caused by polluted water

The Independent UK

South West Water reveals cost of parasite compensation bill

Calls have been made for South West Water (SWW) to pay more compensation to those who were hit by the cryptosporidium outbreak in Devon.

The Guardian - UK

Devon parasite outbreak: anger as South West Water increases dividend

Supplier hands out £127m to investors as it says normal service has been restored for 85% of customers

The Guardian - UK

Owner of firm fined for sewage dumping buys Sutton and East Surrey Water

Pennon, which owns South West Water, Bristol Water and Bournemouth Water, has bought SES Water in a £380m deal

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