United Utilities Group PLC (UU.LN) said Wednesday that its net profit for the six months ended Sept. 30 rebounded to GBP198.1 million from GBP4.4 million, following a big deferred tax charge in the year-earlier period.

Revenue for the half-year rose 0.5% to GBP1.21 billion.

The group said underlying pretax profit rose 1.1% to GBP369.9 million, reflecting price increases allowed by the regulator, which were partly offset by reduced demand and ongoing cost pressures.

The group said it has increased its interim dividend by 5% to 11.17 pence a share.

United Utilities shares opened 0.82% higher at 490p Wednesday.

By Simon Kennedy, Market Watch; +44 207 842 9427; skennedy@marketwatch.com
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