Pennon weathers worst of crisis

Pennon Group saw half-year profits rise 13 per cent on the back of a strong performance by its two subsidiaries.

The water and waste management group, which operates South West Water and Viridor, managed to weather the worst of the financial crisis in the six months to September 30 as turnover increased 6 per cent from £505m ($842m) to £536m, lifting pre-tax profits from £83.9m to £94.8m.