Bad debt controls boost firm's profits; COMPANIES TODAY: UTILITIES.UTILITY giant Severn Trent Severn Trent plc (LSE: SVT) is a British utility. It is traded on the London Stock Exchange and is a constituent of the FTSE 100 Index. Severn Trent is a group of companies employing more than 15,000 people across the UK, US and mainland Europe. posted forecast-beating first half profits as it kept a tight rein on bad debts and made cost savings across the business. The firm posted underlying pre-tax profits of pounds 188m for the six months to September September: see month. 30, 22% ahead of last year and beating City hopes of pounds 180m. Severn said it had "worked hard" to hold bad debt levels at 2.3% of turnover and said it was on track to deliver an extra pounds 5m of cost savings for this year announced in May. |
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