Severn Trent Posts 32% Rise In Profit, Lifts Dividend

Severn Trent SVTRF posted a 32% gain in its net profit for the 12 months to March 31 and lifted its dividend by 8.2%. Severn Trent's underlying profit before interest and tax declined 1.2% to 498.0 million pounds ($750.4 million), from GBP504.2 million, in the year-ago period. Its net profit surged to GBP230.4 million from GBP174.4 million, while revenue gained 3.4% to GBP1.83 billion from GBP1.77 billion Severn Trent also lifted its full-year dividend by 8.2% to 75.85 pence a share.