Anglian Water profits go up after price increases as debt swell to £7.7bn
Anglian Water has revealed stronger profits on the back of price increases for households, as the water supplier also reported another jump in debts over the past year.
The utilities firm, which provides services to seven million people in the east of England, also revealed an increase in pollution incidents over the year.
Anglian revealed on Friday that revenues grew by 7.5% to £1.75 billion for the year to March 31, compared with a year earlier.
The rise was linked to price increases of 8.6% during the year.
Earlier this year, the company said it was putting up bills by a further 19%, to an average of £626 a year, for the 2025/26 financial year from April.
The firm also reported that operating profits grew by 15.2% to £496.5 million for the year to March.
Meanwhile, the group said its net debts before derivatives grew by more than a tenth to £7.72 billion by the end of the year.
Anglian said it grew its debt burden in order to help fund more than £1 billion in capital spending over the year for improvements to water resources and infrastructure in the region.
The company is privately owned by a consortium including major pension funds and investment firms.
Meanwhile, Anglian reported that its total pollution incidents increased last year, although serious ones were down 36% year-on-year.
It also highlighted that the group's leakage performance fell below its individual target.
Mark Thurston, chief executive of the business, said: 'We recognise the challenges ahead.
'The strategies and plans being implemented give us confidence in our trajectory and provide a clear road map for delivering consistent, high-quality outcomes for customers, colleagues, regulators, investors and the environment.
'In summary, 2024/25 has been a year of transition, focus and progress, setting firm foundations for a strong and successful AMP8 (Asset Management Period 8).'
Last month, the water supplier was fined a record £1.42 million for drinking water failures that affected around 1.3 million people.
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