Severn Trent Posts 85.1% Rise In H1 Profit, Raises Dividend

Severn Trent PLC STRNY reported an 85.1% rise in its pretax profit for the first half. The company also lifted the dividend. Severn Trent's turnover for the period surged to GBP917.7 million, from GBP886.0 million, in the year-ago period. Its underlying profit before tax rose to GBP157.5 million from GBP155.0 million, while diluted EPS climbed to 51.3 pence from 30.4 pence. Severn Trent announced an interim dividend of 30.34 pence, versus 28.04 pence.