14% rise in Jersey Water profits

Wednesday 29th April 2009, 3:00PM BST.

Kevin Keen

JERSEY Water increased its pre-tax profits by 14 per cent to £4 million last year.

The annual results show that 2008 was a good year for the utility company. The company will also have a new chairman. The former chief executive of Jersey Milk, Kevin Keen, will succeed retiring chairman David Norman.

Jersey Water said that the results were achieved while it had managed to keep tariff increases in 2008 below the inflation figure of 3.5 per cent.

Turnover for the year rose by four per cent due to more customers connecting to the network in 2007 and 2008. Operating costs were six per cent higher than in 2007 but within budget.

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