UK's Pennon Group falls after warning on operational discipline

Pennon

10/06/2026 08:28

** Shares of British water utility co Pennon Group PNN.L down 4% at 487.2p, among top losers on FTSE midcaps index .FTMC
** Co warns operational discipline must improve after extreme weather and rising performance targets resulted in regulatory penalties
** Net operational penalty of around £42 million ($56.23 million) resulted from exceptional storms and sustained rainfall, coupled with stepped-up performance targets and penalty rates at the start of the new five-year regulatory cycle
** Shares in peers United Utilities UU.L and Severn Trent SVT.L down ~0.6% each 
** YTD, PNN has lost ~8%
     
     
     
($1 = 0.7469 pounds)

 (Reporting by Roshni Srivastava in Bengaluru)
 ((roshni.srivastava@thomsonreuters.com))