REG - Pennon Group PLC - Half Yearly Report <Origin Href="QuoteRef">PNN.L</Origin> - Part 38

PennonAnnouncement

28/11/2014 07:11

- Part 38: For the preceding part double click  ID:nRSb2520YK 

                                                                              Contingent     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     liabilities    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Unaudited                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Half year ended Year ended 31 March                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     30 September                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     2014           2014                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    £m                                            £m                                                                
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Performance    150.7                                         150.0                                                             
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     bonds                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Other          4.0                                           6.9                                                               
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    154.7                                         156.9                                                             
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Performance    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     bonds are      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     entered into in 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     the normal     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     course of      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     business.  No  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     liability is   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     expected to    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     arise in       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     respect of the 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     bonds.         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     The Group is   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     subject to     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     litigation from 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     time to time as 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     a result of its 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     activities.    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     The Group      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     establishes    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     provisions in  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     connection with 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     litigation