Thames Water Swings to £113 Million Profit as Net Debt Climbs to £18.5 Billion
Updated
Updated · bbc.co.uk · Jul 15
Thames Water Swings to £113 Million Profit as Net Debt Climbs to £18.5 Billion
3 articles · Updated · bbc.co.uk · Jul 15
Summary
£113 million in post-tax profit for the year to March returned Thames Water to the black, reversing a £1.51 billion loss a year earlier after it raised customer bills by 40%.
£18.5 billion in net debt, up from £16.8 billion, showed the turnaround still relies on borrowing and internal cash generation to fund the business.
Q4 2026 is the point through which Thames Water said it has enough debt funding to keep operating, offering a near-term buffer as it seeks a longer-term fix.
June brought a setback when the UK government rejected a rescue plan under which lenders sought relief from future pollution fines in exchange for writing off £9.4 billion of debt and injecting new money.