Exeter based Pennon Group’s results show continued support for the South West and communities across the region

30th November 2021

Pennon Group, owner of South West Water, has today issued Half Year results with a resilient performance as Pennon continues to invest in the region, tackle climate change and protect and enhance the natural environment.

The company, which employees around 2,500 people across the region, and in June announced it had acquired Bristol Water, is reporting that it is keeping customer bills as low as possible at a time when customers need supporting most.

Earlier this year, the company announced their Green Recovery initiative, investing in projects to improve public health, the environment and the region’s rivers. This includes pilots on the Rivers Dart and Tavy aimed at understanding the whole river health with the ambition of moving these rivers to bathing water status in the future.

The company also committed to further reducing its impact on river quality by one third by 2025. Its catchment management programme, first introduced in 2006, is active across 80% of our region with c.91,000 hectares of land having been restored to date.

Additionally, it is well underway to plant 250,000 trees by 2025, locking up carbon.

The company continues to support the region’s economy with its apprenticeship programme with plans to recruit 500 by 2025. It was also one of the first companies in the South West to sign up to participate in the Government’s Kickstart scheme, offering 16-24 year olds deemed at risk of long-term unemployment, six month paid work placements. Of the first group recruited, around 55% now have permanent jobs.

Earlier this year, the company also welcomed a new intake of 27 graduates as part of a wider programme to recruit 100 over the next 5 years.

The company’s Neighbourhood Fund has provided around £180,000 since its launch, providing much needed support to community groups in the region. Local groups benefiting included Cornwall Air Ambulance, Axminster and Lyme Cancer Support and The Hollow Lane Club, which supports children and young people with complex disabilities.

Susan Davy, Group Chief Executive, commented: “We are reporting resilient performance across the group, we continue to build momentum, driving sustainable growth, and ensuring we are well positioned to help tackle climate change. This, together with an evolving environmental strategy, will deliver the step change we all want to see for the health of our region now and for generations to come.

“We continue to pursue a relentless approach to improving operational performance through innovative solutions that drive efficiency, and in turn keeping customer bills as low as possible, at a time when customers need supporting most.

“I’d like to recognise the pioneering spirit of Pennon’s c.2,500 employees, who live in our regions and love what they do, and are at the heart of our ambition in developing innovative and sustainable solutions for customers, communities and the environment.

“Our sector leading dividend policy recognises the ongoing loyalty of our shareholders, many of whom are customers, charities, employees and pensioners in the UK, underpinned by the Group’s confidence in our ongoing growth strategy, and building a sustainable future for all.”