Shares in utility company Severn Trent slipped two per cent yesterday as the firm announced a fall in profit. The FTSE 100 company said the drop was because it had increased its investment in infrastructure. The energy giant, which recently appointed Capgemini's Christine Hodgson as its new chairman, said that it had been a strong performance and raised its dividend on the back of the results. Severn Trent announced revenue of £910m for the half-year period, up from £881.5m in 2018 — a 3.2 per cent increase. Profit for the group was £286.3m, slightly down on last year's £299.1m. Earnings per share also fell nearly 10 per cent to 68.8p, which it blamed on losses from its Water Plus joint venture with United Utilities.

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