Why Severn Trent Plc Shares Jumped After United Utilities’ £11.5 Billion Water Bet
Severn Trent shares jumped 6.7% after United Utilities unveiled an £11.5 billion investment plan and an £800 million share placing, lifting UK water stocks. United Utilities’ annual pretax profit more than doubled to £779 million, with revenue up 22%. Severn Trent’s own AMP8 plan was approved for £14.9 billion in spending. James Jesic became Severn Trent CEO on January 1.
