United Utilities first-half underlying revenue rose 10.9% to £1.1bn, largely due to inflation-linked tariff increases.
Underlying operating profit climbed 23.8% higher to £335.7mn, driven by the top line growth which more than offset increased operating costs.
Free cash flow rose from £24.1mn to £38mn as increased cash generation more than offset higher investment spending. Net debt rose from £8.5bn to £9.1bn.
Full-year guidance has been reiterated. Revenue is expected to rise by around 10%, and underlying operating costs are set to grow faster than inflation.
An interim dividend of 17.28p was announced, up 4.2%.
The shares were broadly flat in early trading.
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United Utilities key facts
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