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Market Update On One Utility Stock - PNN

Jun 13, 2024 | Team Kalkine
Market Update On One Utility Stock - 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 UK-based company, employed in customer services and provisioning environmental infrastructure. PNN engages in providing several services, including wastewater services, and water management needs to business customers.

FY24 Results (Released on 21 May 2024)

  • Financial Update: The Company reported an increase of 13.9% in the Staturoty revenue to GBP 907.8 mn during FY24 as compared to GBP 797.2 mn in FY23. Also, the Underlying Operating Profit improved by 8.6% to GBP 16.3 mn in FY24 versus GBP 153.1 mn in FY23.
  • Operational Highlights: Devon and Cornwall achieved 100% peak reservoir capacity due to exceptional rainfall, leading to increased storm overflow and pollution, but also improved sewer flooding performance and 100% bathing water quality for three consecutive years. The company committed GBP 145 mn to renewable energy, covering 40% of group energy needs, maintained below-inflation bill increases, and provided over GBP 100 mn in customer support.
  • Outlook: Organic revenue growth is expected due to inflationary tariff increases and growth in non-household retail businesses, with South West Water operating costs remaining flat despite inflation, while overall Group operating costs will increase.

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 592.00 (as of 13 June 2024, 09:50 AM GMT+1)

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 13 June 2024. 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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Past performance is not a reliable indicator of future performance.

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