United Utilities turned in year profits at the upper end of expectations yesterday and confirmed a more restrained strategy after last year's boardroom battle.
United, which spans water, electricity, gas and telecoms, said pre-tax profits before exceptionals for the year ending March 31 rose 3.7% to #460.5m, compared with forecasts of between #449m and #463m.
The company said it felt the ''first fruits of the application of tighter financial control (were) beginning to show through''.
It paid out a final dividend of 27.64p per share, making a total of 40.8p for the year, with an extra 1.36p on the final pay-out to reflect a delay in payment to April 6, 1999, to take a tax advantage. There is also a share alternative.
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