0R15 8520.0 0.0% 0R1E 8203.0 0.0% 0M69 21090.0 67.5139% 0R2V 226.02 9878.8079% 0QYR None None% 0QYP 412.97 -2.8306% 0RUK 2652.0 -9.2402% 0RYA 1554.0 -0.7029% 0RIH 174.55 -1.3563% 0RIH 165.15 -5.3853% 0R1O 198.5 9800.2494% 0R1O None None% 0QFP None None% 0M2Z 267.777 -0.1763% 0VSO 32.05 -9.9846% 0R1I None None% 0QZI 559.0 0.7207% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 165.7358 2.7149%

small-cap

Business Updates on One Utility Company - PNN

Dec 05, 2023 | Team Kalkine
Business Updates on One Utility Company - PNN

PNN:LSE
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (GBX)

Pennon Group PLC  

Pennon Group PLC (LSE: PNN) is a FTSE 250-listed Environmental Infrastructure Company, which provides services related to waste management, water & wastewater, and water retail services. It operates through three businesses – Pennon Water Services Limited, Southwest Water Limited, and Viridor Limited.

H1 FY24 Interim Results (Released on 29 November 2023)

  • Revenue: The company stated that the sales increased by 5.4% to GBP 446.6 mn during H1 FY24 as compared to GBP 425.5 mn in H1 FY23,majorly driven by the inflationary tariff increase which were moderated via making various regulatory adjustments, reducing the impact on the customers bills.
  • Profitability: The company reportd a decline of 59.6% in the Underlying Profit Before Tax to GBP 91 mn during H1 FY24 versus GBP 22.5 mn in pcp, whereas the Profit After Tax slipped by 90.3% to GBP 1.8 mn in the reported period (H1 FY24) verusus GBP 18.5 mn in pcp.
  • Oulook: The company expects the overall underlying results to be majorly inclined towards the H2 FY24 on account of seasonality of the demand patterns observed earlier. Further, the operating costs are expected to decline during the H2 FY24 due to reduced power costs and improved efficiency in the operations and various cost control strategies.  
  • Dividend Declaration: The company announced the total dividend of GBX 14.04 per share, which wil be paid on 05 April 2024.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Pennon Group PLC (LSE: PNN) was trading at the current market price of GBX 709.00 (as of 05 December 2023, 08:45 AM GMT)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 05 December 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.


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