The UK's largest water company saw annual profits increase but its debts also climbed to over £15bn.
Debt-laden Thames Water has said it has enough cash to fund its operations until May next year but that efforts to raise new money are continuing.
Later this week, the water regulator Ofwat is due to publish its draft ruling on how much water companies can charge their customers for the next five years. On Thursday, the regulator will release its initial ruling on how much water companies can raise bills. There will then be several months of negotiations before a final ruling in December.
As well as its financial woes, Thames has also come in for steady criticism for the number of sewage discharges and water leaks affecting its customers. The 40% increase in rain from the previous year also led to a rise in the number of reportable pollution events to 350 from 331.Thames' results showed that it paid two dividends worth a total of £158.3m to two of its holding companies in March this year.forbidding water companies from paying dividends if it risked harming their financial resilience.
In March this year, Mr Weston said it was "eventually possible" that the firm could be nationalised, although he said that was "quite a long way off".
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