Thames Water paid no corporation tax during a year in which revenues soared to £1.8billion and it received £5million credit from the Treasury. The UK’s biggest water company made £549million profits as it hiked bills by an inflation-busting 6.7 per cent, putting further strain on millions of hard-pressed families already suffering from soaring utility bills. Meanwhile customer satisfaction dipped and hundreds saw their homes flooded by sewage. Profits for the year to the end of March were down nine per cent on last year, which the company blamed on the freezing weather and rising levels of debt during the economic downturn.
Posted on: Mon, 10 Jun 2013 21:45:00 +0000