News Page for: THAMES WATER, TW. (graph)

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Item
Date
Source & Article
1
18th May 2000

FT- TW is coming under pressure from some of its institutional shareholders to renegotiate its acquistion of E'town (4th largest quoted US water supply & treatment group in US). It is believed the £574.6m price tag agreed last Nov.  is too high. E'town only achieved 10cents EPS for the Q4 1999 instead of 53cents expected, and again in April this year 26cents instead of 52cents for Q1 2000.

Bill Alexander, TW CEO, said the only shareholders who have approached him are ones with <1% of TW [so what do they know!-IRW]. The bulk of shareholders are happy with the acquisition.
2
23rd May 2000
 CH4 Teletext: Regulatory controls will siphon off UK profits this year, but hopes for growth elsewhere in the world. They reported 6% rise in sales last year to £1.48bn. and 2% rise in profit before tax & exceptional items. The total divi is 9% higher @ 46.5p. Chairman Roger Carr said the group was becoming a leading international force. [innevitable given that this resource drops out of the sky mainly over Britain -IRW].
3
23rd May 2000

FINALS RESULTS:

Turnover: .................£1.48bn (1.40bn)

Pre-Tax Profit..........£ 420m (412m)

EPS.........................97.6p (106.3p)

Total Divi.................46.5p (42.6p)
4
15th July 2000
 FT: Director Buys: 3000 shares, worth £25K, 1 director.
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