Thames Water will return to profit after raising bills

Thames Water has returned to a full-year profit after growing its customer bills by 40% last year.

The UK’s biggest water company reported £113m in revenue for the 12 months to the end of March.

However, the company’s net debt rose from £16.8bn to £18.5bn, he said, “continuing to support the business through debt and internally generated cash flows”.

“The progress we’ve made in turning the company around is now showing us better performance,” said CEO Chris Weston.

Publication of the Thames Water results comes after the Govt. In June, he rejected the rescue agreement offered to the business.

Under the deal, Thames’ creditors will seek amnesty from future pollution fines by canceling a £9.4 billion pile of debt and injecting new cash.

Thames Water said on Wednesday it had enough debt support to keep the business running “until Q4 2026”.