Servotronics (SVT) Stock

FTSE 100-listed water firm Severn Trent PLC (LSE:SVT) saw a huge swing in interim profits despite acknowledging that it will miss certain water-safety performance metrics this financial year. The group reported a near tripling of profit after tax to £141.4 million for the six months ending 30 September, up from £51.60 million a year earlier.

SVT's Q3 earnings are affected by higher overhead costs and a less favorable product mix.

Higher volumes from strong customer demand and improved pricing aid Servotronics' (SVT) second-quarter earnings.

Severn Trent PLC (LSE:SVT) hailed its environmental performance after it received a four-star rating from the Environmental Agency for the fifth year running. Its award however came just months after it was fined £2 million for dumping sewage into the River Trent in Stoke alongside other missed environmental targets.

Water regulator Ofwat has opened four new enforcement cases against British water and wastewater companies, with formal notices served on FTSE 100 firms Severn Trent PLC (LSE:SVT) and United Utilities Group PLC (LSE:UU.). Dŵr Cymru Welsh Water, Hafren Dyfrdwy have also been told to gather evidence.