As Thames Water teeters on the edge of bankruptcy with 14 billion of debt. And the water industry as a whole buckles under £45 billion of debt. Another UK utility South West Water
Currently loss making.
Revenue to 31/03/2022 was £583 million
with Debt at £2.3 billion
share price approx £11
Recent fines for environmental offences total £2,150,000
SWW is currently under investigation by Ofwat for under reporting leakages.
The annual dividend payment to a shareholder per each share owned is increased by 10.9% to 42.73 pence from 38.53 pence in 2022. SWW borrows even though operating at a loss enabling dividend payments despite pressure to reduce spills and modernise the network.
Another day, another storm. Official warnings are issued after Thunderstorms overload waste treatment systems at The Headland Newquay Cornwall. The UK’s antiquated sewerage system is woefully inadequate. Water companies have failed to invest to protect the coastal and river environment. They instead rely on a network of around 18,000 licensed sewer overflows to routinely discharge raw sewage into rivers and the ocean. In 2021 alone sewage discharged into rivers and seas 370,000 times for a total of 2.7 million hours. A dead rat floats next to sanitary ware and scum in a brown tinged sea at an area known as The Gazzle which is adjacent to the slate clad South West Water pumping station located on the Headland at Newquay, after torrential rain forces the discharge straight into the ocean of a dilute raw sewage mixed with surface rainwater.