Severn Trent Continues To See £50 - £85 Mln Negative Impact To 2020/21 Revenue - Quick Facts

(RTTNews) - Severn Trent Plc (SVT.L) continues to expect a £50 million - £85 million negative impact to 2020/21 revenue, and the Ofwat regulatory model allows this to be recovered in 2022/23.

The company said it has been encouraged by cash collections broadly in line with the same period a year ago, but continue to anticipate COVID-19 bad debt increases in line with guidance previously given as government support schemes come to an end.

Overall, Severn Trent noted that the first quarter of the financial year has been in line with its expectations, and the Board continues to expect that the Group would deliver full-year trading performance consistent with prior guidance.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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