Strong operational and environmental performance
o joint top position as measured by Ofwat KPIs
o first quartile in Environment Agency's latest assessment
o retained Dow Jones Sustainability Index 'World Class' rating and sector leading status
o accelerating 2015-20 investment programme - expect to invest c£800m in 2015/16
Water quality incident - full service restored in early September
o 10% of customers impacted - compensation paid to all those affected
Good financials
o underlying operating profit of £309m
o lower underlying net finance expense: benefit of lower RPI inflation and lower cost fixed debt
o RCV gearing at 59%, comfortably within our target range of 55% to 65%
o interim dividend of 12.81 pence per share, an increase of 2% in line with policy
