BUSINESS LIVE: Thames Water reveals turnaround plan; SSP reinstates dividend; THG buys Biossance
By Live Commentary
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The FTSE 100 will open at 8am. Among the companies with reports and trading updates today are Thames Water, SSP Group, THG, Marston’s, Ashstead, Moonpig and Quiz. Read the Tuesday 5 December Business Live blog below.
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Thames Water reveals turnaround plan
Debt-laden Thames Water has revealed a three-year turnaround plan as Britain’s biggest water utility seeks to ease concerns over its financial stability.
It is feared the group, which said it had a high level of liquidity, could buckle under the weight of its £14billion debt prompted the government to ready a rescue plan earlier this year, before the company’s financial investors agreed to invest additional equity in July.
A supplier of water to 15 million customers, more than a fifth of Britain’s population, Thames Water said on Tuesday that it had total liquidity of £3.5billion, as well as further funding resources, and added that its shareholders supported its investment plans.
‘Our shareholders support this much needed investment, underscoring their commitment to delivering Thames’ turnaround,’ Co-CEOs Cathryn Ross and Alastair Cochran said.
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BUSINESS LIVE: Thames Water reveals turnaround plan; SSP reinstates dividend; THG buys Biossance
