Thames Water Reports £113M Profit After 40% Bill Increase

Thames Water reported a post-tax income of £113 million for the year ending March, a recovery from a £1.51 billion loss the previous year. This profit was achieved after a 40% increase in customer bills. However, net debt rose to £18.5 billion from £16.8 billion. The firm is still borrowing significantly due to insufficient customer funding for infrastructure upgrades. These developments indicate ongoing financial challenges despite the profit return, which may impact investor confidence especially with the potential new government policies.