Thames Water’s battle against the British weather has sapped profits at the utility as it prepares to shore up its defences against the threat of a no-deal Brexit. The beleaguered water supplier suffered a double blow of extreme weather this year after freezing temperatures ripped through the company’s water pipes over the winter before giving way to one of the driest summers on record. Record leaks and the resulting scramble to source enough water for its 15 million customers over the summer drained its profits before tax to £67.7m in the year to Sept 30 from £218.5m last year. Steve Robertson, Thames Water’s chief executive, said profits fell in large part because the group “brought forward… To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register for free Register for free to continue reading this article Register Or unlock all Premium articles, free for 30 days Start trial Already have an account? Login Want to learn more? View all subscriptions
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