Water and waste firm makes a splash

WATER and waste management outfit Pennon provided some shelter from market turbulence yesterday after better-than-expected annual results.

By The Newsroom

Published 25th May 2010, 22:22 BST

Updated 25th May 2010, 22:32 BST

Profits from the regulated utility business South West Water rose 8.7 per cent to 132.5 million, while the firm's waste management arm Viridor jumped 34.8 per cent to 55.4m and overall group profits improved 14.2 per cent to 189.1m for the year to 31 March.

Pennon shares rose 2 per cent in a weak market as other players in the industry also benefited from an upbeat sector note by Royal London Asset Management.