Thames Water returns to profit after raising bills

Thames Water reported a full‑year profit after raising customer bills by 40% over the previous year. The utility posted post‑tax income of £113 million for the 12 months to the end of March, a turnaround from a £1.51 billion loss in the prior year. Net debt rose to £18.5 billion from £16.8 billion, as the firm said it “continued to money the concern through… indebtedness and internally generated currency flows.” Chief Executive Chris Weston stated, “The advancement we person made successful turning the institution astir has meant we are present performing better.” The results were published after the authorities rejected a projected rescue woody for the concern successful June. Under the terms of that deal, Thames’ lenders sought leniency on future contamination fines in exchange for writing off £9.4 billion of its debt pile and injecting new capital. Thames Water said on Wednesday it has sufficient debt financing to support the concern going “through to Q4 2026.”