South West Water owner Pennon owner up 4% despite deep loss
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Pennon Group PLC, owner of South West Water, reported an £18.6 million loss before tax for the six months ending September 30, contrasting with a £9.1 million profit from the previous year. Despite this, the company's stock rose by 4%.
November 27, 2024 | 1:30 pm
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Pennon Group PLC reported a significant loss of £18.6 million before tax for the first half of the year, yet its stock price increased by 4%.
Despite reporting a significant loss, Pennon Group's stock price increased by 4%. This suggests that investors may have anticipated worse results or are optimistic about future performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80