Pennon Group plc (LON:PNN) (OTCMKTS:PEGRF) at present launched a buying and selling replace displaying the group is on monitor to satisfy expectations for the present yr to Mar thirty first. This autumn 2020 hedge fund letters, conferences and extra The group sees actual returns on regulated fairness doubling from their base degree of three.9%. Buyer unhealthy money owed brought on by the […]
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This story initially appeared on ValueWalk
- Pennon Group plc (LON:PNN) (OTCMKTS:PEGRF) at present launched a buying and selling replace displaying the group is on monitor to satisfy expectations for the present yr to Mar thirty first.
- The group sees actual returns on regulated fairness doubling from their base degree of three.9%.
- Buyer unhealthy money owed brought on by the pandemic haven’t worsened past earlier expectations.
- To this point, the group has used proceeds from the £3.7bn disposal of Viridor to cut back money owed, leaving Pennon with important monetary firepower.
Pennon Group Fails To Make clear How It Will Reinvest Viridor Proceeds
Commenting on the assertion, Steve Clayton supervisor of the HL Choose UK Revenue Shares fund, which holds Pennon Shares stated:
“Right this moment’s assertion is reassuring however essentially fails to offer full readability on how Pennon will go about reinvesting the Viridor proceeds. But it surely seems to be as if while Pennon haven’t signed a deal but, they might be reaching for the pen. The group say that by their full yr outcomes on June third they may both have introduced a deal to purchase one other UK water firm, and Southern Water is the title most frequently linked right here, or they may make a considerable return of capital to their buyers.
In an unsure world, Pennon seems to be engaging. Both the simplest administration workforce within the sector will get a significant new set of property to work with, or there will likely be an upfront money return. Both method, Pennon seems to be set to have a busy summer season forward.”
The shares have been little modified in early buying and selling.
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