RNS Number : 7957W
Dee Valley Group PLC
06 February 2012
DEE VALLEY GROUP PLC ("THE GROUP")
INTERIM MANAGEMENT STATEMENT
Dee Valley Group plc today publishes its Interim Management Statement for the period from 1 October 2011 to date.
Group revenue to date is in line with management expectations and reflects the 5.3% price increase for 2011/12.
Profit for the year before exceptional items is also expected to be in line with management expectations.
During the year a restructuring to reduce costs and improve performance was concluded satisfactorily and will result in annual savings in operating costs of about GBP90,000 from the next financial year commencing 1 April 2012. The exceptional charge for restructuring costs in the current year is not material.
Uncertainty about future electricity costs was reduced with the renewal of a second of the three tranches of electricity for the next three years. Electricity prices have now been fixed up to 2015 for 65% of the Group's expected consumption.
Capital investment in the regulated business continues as planned.
Despite extremely low rainfall over the previous year, the water resources situation is adequate and no restrictions on use are expected during 2012.
Other than the information contained in this Interim Management Statement there have been no material events or transactions in the period affecting the outcome for the current financial year.
Dee Valley Group plc
Norman Holladay (Managing Director)
David Guest (Finance Director)
Tel. 01978 846946
Tel. 020 7071 4300
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