Jersey Water profits up 15%

Monday 23rd April 2007, 12:00AM BST.

JERSEY Water increased its profits last year by 15 per cent to £2.8m.

The utility, which is 74 per cent owned by the States, said the results were especially pleasing, as last year had been exceptionally dry and it had run the expensive desalination plant over the summer. Sales increased by 2.7 per cent over the year, driven by a 60 per cent increase in connections to the mains and increased demand during the dry spell. The company will increase its dividend to shareholders by five per cent, giving a £740,000 windfall to the States, on top of taxes it will pay.

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