Shares in Northumbrian Water were down on the FTSE 250 in morning trading after the water company reported a rise in revenue and pre-tax profit in the full year ended 31 March 2011.
Group revenue in the period increased 4.7 per cent to £738.1 million, while pre-tax profit in the year climbed 6.3 per cent to £181 million.
The group also saw its net debt rise 1.8 per cent in the period to £2.3 billion.
Ordinary dividends increased 7.9 per cent from the previous year to 14.29 pence per share.
Heidi Mottram, Chief Executive of Northumbrian Water, said, "This has been my first year as Chief Executive Officer of the Group and also the first year of a new five year regulatory period. We have taken this opportunity to review our strategy, vision and values and have reaffirmed our goal to be the national leader in the provision of sustainable water and waste water services. We will continue to deliver value to our stakeholders by focusing on our core competencies of water and waste water management, underpinned by our five strategic themes of customer, competitiveness, people, environment and communities. I am pleased with the progress we have made this year towards achieving that goal.
"The Group continues to produce strong financial and operational results and has funding in place to meet our requirements for the next three years. We expect to perform well against our regulatory and contractual targets over the next four years."
By 08:30 shares in Northumbrian Water were down 1.08 per cent on the FTSE 250 to 358.80 pence per share.