Pennon Group Posts 3.4% Rise In H1 Pretax Profit, Raises Dividend

Pennon Group PLC PEGRY reported a 3.4% rise in its pretax profit for the first half and raised the dividend. Pennon Group's revenue for the period dropped to GBP633.7 million, from GBP642.6 million, in the year-ago period. Its operating profit declined to GBP136.3 million from GBP143.1 million, while profit before tax rose to GBP111.1 million from GBP107.4 million Pennon Group's diluted EPS rose to 26.0 pence, from 25.9 pence. It lifted the interim dividend by 6.6% to 8.76 pence.