Shire interim finance chief James Bowling switches to Severn Trent October 20, 2014 Shire's interim chief financial officer (CFO) James Bowling has informed the company's board that he will be stepping down to pursue a career at the FTSE 100 water company Severn Trent. Bowling will exit Shire at the end of the first quarter of 2015. Flemming Ornskov, Shire's Chief Executive Officer, commented: James has helped build [...]
Severn Trent expects to ramp up dividend as operating costs rise July 16, 2014 Severn Trent yesterday said that it was trading in line with expectations and planned to raise its dividend by 5.6 per cent this year, although its operating costs were set to rise due to inflation, taxes and higher energy spending. Despite speculation that there would be fierce shareholder opposition at yesterday’s annual general meeting – [...]
Severn Trent hikes dividend as profits soar May 29, 2014 SEVERN Trent yesterday unveiled a 7.1 per cent rise in pre-tax profits, slightly ahead of market expectations, but ongoing negotiations with the regulator over its spending plan continue to overshadow the water company. New chief executive Liv Garfield, who joined eight weeks ago, said the FTSE 100 firm was in “constructive dialogue with Ofwat” over [...]
Severn could face further Ofwat fines July 7, 2008 Severn Trent Water may face further financial sanctions that may run into millions from regulator Ofwat in the final act of the long-running saga over misleading data about its leakage rates. The water business, which services eight million people in the Midlands and Wales, became the first British utility firm to be convicted of criminal [...]
Severn Trent pays penalty for water leaks July 2, 2008 Severn Trent Water was fined £2m at the Old Bailey yesterday for lying about its water leakage rates. Earlier reports had suggested the fine for this unprecedented criminal case could top £70m. And the Serious Fraud Office (SFO), who brought the case against the water firm, had asked the court to make an example of [...]