Thames Water is under significant financial strain, with debts totaling £1.27 billion and a pre-tax loss of £1.65 billion reported for the year ending March 31. Pollution incidents have escalated, increasing by over a third to 470 incidents. The company is considering a restructuring plan prompted by creditors and is preparing for a takeover. Despite some reported progress, leadership acknowledges that it will require at least a decade to reverse the current crisis and stabilize the business operations.
Thames Water is heavily in debt with £1.27 billion owed to creditors and has incurred £122 million in fines from Ofwat, indicating severe financial distress.
The company revealed a pre-tax loss of £1.65 billion for the year ending March 31, a stark contrast to the previous year's profit of £157 million.
Pollution incidents surged by 34.3%, reaching a total of 470, posing significant risks to the company's reputation and operational performance.
Thames Water's leadership acknowledges that it will take at least a decade to restore stability to the business and reset the regulatory landscape after the creditors' takeover.
Collection
[
|
...
]