UK floods hit Severn Trent profits

Severn Trent today said costs associated with the summer’s flooding crisis washed away profits growth in the first half of its financial year.

The utility company, which serves 3.7 million household and business customers in England and Wales, posted pre-tax profits of £149.5m (€208.2m) for the six months to September 30, down 6.4% on a year earlier.