Member Article

Yorkshire Water sees turnover increase to nearly £1 billion

Bardford-based Yorkshire Water saw annual turnover rise by 5% to £984.2 million, however operating profit fell to £330.2 million.

For the year ending March 2014, the utility company spent £344.6 million on capital projects, a fall of 10% on the same period last year.

Yorkshire Water also reportedly appointed Ray O’Toole to the role of non-executive director on the board of Yorkshire Water, replacing Roger Hyde who retires from the board after serving for nine years as a non-executive director.

Kevin Whiteman, chairman, said: “Yorkshire Water again has a good set of financial results underpinned by continuing investment and improvement in our operational and environmental performance.

“Over the past 12 months we have performed strongly against Ofwat’s key performance indicators, with the trend being one of year-on-year improvement across many of our regulatory measures.

“Particularly pleasing has been the significant improvements we have delivered in the quality of our customer service, which we intend to build on further in 2014/15.”

Commenting on the company’s end-of-year results, Richard Flint, the chief executive of Yorkshire Water, said: “I am delighted that the company goes from strength to strength with high levels of performance in most elements of our operations in the last year.

“This is testimony to the hard work and dedication of colleagues from across the business and the partner organisations who work with us.

“We have had constructive dialogue with Ofwat on our investment plans for the period 2015-2020 and will continue to work with the regulator to achieve the best possible outcome for our region. In the meantime, our focus will be to build on the excellent progress we have made over the past 12 months to enhance our levels of service and customer satisfaction”

Substantial capital investment in the region was also highlighted, including a £110 million initiative to improve bathing waters on Yorkshire’s east coast, a £30 million investment in waste water treatment works in Bradford and a £23 million investment in a new anaerobic digestion facility in Sheffield.

This was posted in Bdaily's Members' News section by Clare Burnett .