The company, which operates through
Dee Valley, which serves north east
The group has sought to adopt a more "sustainable approach" to the delivery of pension provision and during the year it proposed changes to its defined benefit pension scheme. The proposed changes were designed to reduce both the costs and risks presented by the scheme.
The changes were implemented with effect from
Dee Valley said revenue increased following a 4.0% price increase in domestic and non-domestic water bills, as well as an increase in consumption.
Operationally, the firm said the volume of water lost as a result of leakage during the year was 10.15 million litres per day, up from 9.28 million litres per day a year earlier. Dee Valley said although leakage was higher than the previous year it remained below
Looking ahead, the firm said it expects the next 12 months to be challenging with the outcome of Ofwat's price control process for 2015-2020 being crucial to future investment.
Despite its performance. Dee Valley reduced its final dividend to
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