REG - Pennon Group PLC - Pennon Group Half Year Results 2017/18 <Origin Href="QuoteRef">PNN.L</Origin> - Part 10
29/11/2017 07:06
- Part 10: For the preceding part double click ID:nRSc7900Xi
ODIs including SIM and those which end of AMP
measures. 33 meeting target or within
appropriate tolerances.9 £7.0m cumulative net
reward reflecting £9.1m net reward which will
be recognised at the end of the regulatory
period and £2.1m net penalty which can be
reflected during the regulatory period10
Expenditure in excess of original target by
£45m as at 30 September 2017, subject to
contractual recovery from previous EPC
contractor.11 Future dividends growth based on
policy of 4% + RPI forecast to 2020 12 There
will continue to be a long term partnership
with GMWDA, and Viridor and its joint venture
will continue to own and operate Runcorn I ERF
facility, as well as securing an 18 month
contract to operate the recycling facilities
on improved terms13 Includes 100% capacity for
joint ventures, excludes Bolton ERF due to
fire14 As at 20 November 2017. c.5,100 new
accounts, net growth c.1,75015 Before non
-underlying items16 Underlying EBITDA plus
share of Joint Venture EBITDA and IFRIC 12
interest receivable17 Non-underlying items are
adjusted for by virtue of their size, nature
or incidence to enable a full understanding of
the Group's financial performance18 Before
deferred tax and non-underlying items and
proportionately adjusted for the first return
due on the 2017 perpetual capital securities
in H1 2017/18 and the periodic return due
March 2017 in H1 2016/1719 The RPI rate used
is 3.9% as of September 201720 Including
construction spend related to service
concession arrangements21 In the first half of
2016/17, in addition to the derivative charge
noted above, there were non-underlying charges
for restructuring costs (£10.7m) and a
deferred tax credit of £20.1m relating to the
enacted reduction in the UK rate of
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