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Strategic report – Overview

Who we are +

Pennon Group Plc is one of the largest environmental and resource management groups in the UK. We are at the top end of the FTSE 250 and we have assets of around £5.4 billion and a workforce of over 4,500 people.

Find out more (pdf)

Pennon Group highlights+

Revenue

£1,357.2m +2.7%

Profit before tax

(before exceptional items)

£210.7m +1.6%

(statutory basis £197.0m)

Assets

£5.4bn

Dividend

+4.9%

Read our Group highlights and KPIs (pdf)

South West Water highlights+

South West Water

The water and wastewater services provider for Cornwall, Devon and parts of Dorset and Somerset, South West Water finished the K5 regulatory period (2010-2015) with another year of strong operational and financial performance.

Financial highlights

Revenue

£522.2m +0.4%

Profit before tax

(before exceptional items)

£167.9m +3.3%

(statutory basis £179.7m)

Strategy

At the core of South West Water's strategy is the company's commitment to delivering the services its customers depend upon in the most efficient way possible while minimising its environmental impact.

Read about South West Water's highlights and KPIs (pdf)

Viridor highlights+

Viridor

One of the UK’s leading resource recovery, recycling and renewable energy businesses – achieving further strong progress in its long-term strategy built around its ‘Energy’ and ‘Recycling & Resources’ divisions.

Financial highlights

Revenue

£835.9m +4.2%

Profit before tax

(before exceptional items)

£27.7m +0.4%

(statutory basis £1.0m)

Strategy

Viridor's stated company purpose is to give the world's resources new life. Viridor stands at the forefront of transforming waste in the UK, producing energy, high quality recyclates and raw materials.

Read about Viridor's highlights and KPIs (pdf)

Chairman's statement+

Dear Shareholder

In my final report to you as Chairman of Pennon Group prior to my retirement following the 2015 Annual General Meeting (AGM), I can confirm that this has once again been a successful year for the Group. I am pleased to be handing over to Sir John Parker at a time when Pennon's subsidiary businesses are well positioned for strong future growth.

Since joining the Board 18 years ago there has been a significant number of key achievements that have enabled the Group to develop and grow to become one of the UK's leading utility and resource management companies. Under the guidance of Sir John and the Board, I remain confident in the continued success of the Group and its long-term prospects.

Business performance

Group revenue was up by 2.7% to £1,357.2 million and profit before tax and exceptional items increased by 1.6% to £210.7 million(1). We continue to maintain substantial cash resources and facilities to fund our capital programme and we ended the year with a record level of over £1.7 billion (including £196 million of restricted funds).

Read our Chairman's statement (pdf)

Business model+

Our business model is the framework through which we deliver our strategy: to innovate, drive out inefficiencies and identify opportunities for growth; and to provide high quality, reliable services and a safe working environment for our people and the communities we serve.

Read more about our business model (pdf)