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Pennons posts £207.3m profit

WATER utility Pennon has reported a nine per cent rise in full-year pre-tax profit to £207.3 million.

The group said tariff increases and new customers boosted its South West Water subsidiary which helped to offset a fall in profits at its waste management arm Viridor

Pennon intends to pay a full-year dividend of 30.31 pence, which is a 6.5 per cent rise on the previous year.

Chairman Ken Harvey said the company had performed well in spite of challenging weather conditions.

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