United Utilities H1 FY27 slides: capex guidance raised, 9.5% asset growth

United Utilities reported its half-year results for the period ending September 30, 2026, on November 12, 2026. The company raised its full-year capital expenditure guidance to above £2 billion, while maintaining its total AMP8 investment plan at £11.5 billion. Revenue increased 9.1% to £1,407 million, driven by higher regulatory revenues under the PR24 Final Determination.

Asset base growth reached 9.5%, totaling £17.5 billion. The company demonstrated strong operational and financial performance, with underlying operating profit rising 6.9% to £579 million. Dividends remained consistent with an interim dividend of 18.51 pence per share, growing 3.5% in line with CPIH inflation.

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