Severn Trent FY Pretax Profit Declines

U.K. company SEVERN TRENT PLC STRNY reported a decline in its pretax profit for the year to March 31. Severn Trent's pretax profit for the year slipped to GBP148.2 million ($232.5 million), compared to GBP318.9 million, in the year-ago period. Its underlying profit before tax gained 8.8 percent to GBP300.4 million versus GBP276.1 million. Its profit from continuing operations declined to 115.5 million pounds, or 48.1 pence per share, versus 471.8 million pounds, or 197.6 pence per share. Adjusted EPS surged to 106.7 pence from 92.1 pence. Its revenue increased 2.5 percent to GBP1.80 billion. The company's board proposed a final ordinary dividend of 50.94 pence per share.