Credit Investor Presentation
Interest, joint ventures, tax and earnings
Underlying net
finance expense¹
£132.8m
Joint
Ventures
Underlying
tax charge¹
£9.3m
17%
£58m lower
than 2019/20
Change to alternative
performance
measures (APMs)
Lower inflation on
index-linked debt
Share of
underlying losses
2019/20 £6.1m share of
underlying losses
Disposal of Tallinn JV
At
£77m
Total tax charge (incl.
deferred tax) in line with
headline rate of 19%
1 Underlying measures reflect the adoption of new definitions for alternative performance measures (APMS) with prior year numbers re-presented for comparative
purposes. A reconciliation is provided in the appendix to show the impact of the new APMs.
Underlying profit
after tax¹
£383.0m
2019/20:
£486.3m
Underlying EPS
of 56.2p
United Utilities
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Credit Investor presentation
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