Top of main content

Our latest results

Our interim results

We've published our interim results for the first six months of 2021/22.

  • Turnaround plan launched in March 2021 – focused on fixing the basics, raising the bar and shaping the future
  • New, experienced Executive team, with eight members appointed since 1 March 2021, including new CFO, Alastair Cochran
  • Journey begun to improve complaints and water metrics – however still a long way to go
  • Improved operating profit, driven by growth in allowed revenue and partial recovery of non-household consumption
  • Higher reported losses reflecting increases in deferred tax and non-cash losses on financial instruments
  • Major step forward in the way we manage our water network – our shareholders have approved a £300 million contribution towards future investment to speed up improvements to London’s network and we’ve launched the overhaul of our water network operating model from 2022
  • Performance off track in waste metrics with serious pollutions and sewer flooding affected by extreme impact of climate change
  • Planned £1.2 billion capital investment to upgrade and maintain sewage treatment works between 2020 and 2025 – alongside ensuring compliance with our obligations, this investment will help tackle sewage spills and we will provide alerts at all of our 468 permitted overflow points by the end of 2022

Download our interim report

More about our business

Our Purpose, strategic ambitions, and values

Learn more about who we are

Our ownership structure and governance

Learn more about our governance