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    Dominic Nash

    Research Analyst at Barclays

    Dominic Nash's questions to PNN.L leadership

    Dominic Nash's questions to PNN.L leadership • H1 2023

    Question

    Dominic Nash inquired about the recoverability of revenue lost from lower water consumption and increased costs, the status of the Interserve Viridor legal action, and concerns over Cornwall's water resilience and future investment needs.

    Answer

    Executive Paul Boote clarified that the Interserve legal action is resolved and detailed the financial mechanics of revenue incentives and cost recovery. CEO Susan Davy addressed water resilience, outlining significant, fast-paced investments in new water sources for Cornwall, funded by outperformance, to ensure supply and build future resilience.

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    Dominic Nash's questions to United Utilities Group (UUGRY) leadership

    Dominic Nash's questions to United Utilities Group (UUGRY) leadership • Q2 2016

    Question

    Dominic Nash asked for the book value of the Water Plus JV following the booked profit on disposal. He also questioned whether the company's construction and CapEx program costs are expected to track RPI or potentially diverge from it.

    Answer

    CFO Russ Houlden deferred the specific question on the JV's book value for an offline discussion due to its complexity. Regarding costs, he noted that while construction prices are rising, innovations like DfMA are being used to drive cost savings to meet the regulatory allowance. CEO Steven Mogford added that the company constantly re-measures its budget against inflation to manage outturn costs.

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    Dominic Nash's questions to United Utilities Group (UUGRY) leadership • H1 2016

    Question

    Dominic Nash from Macquarie asked about the non-regulated energy investments, questioning how customers benefit, how contracts are structured against falling power prices, and if demand-side management is being explored. He also inquired about the company's broader strategy regarding potential M&A and corporate restructuring in the water sector.

    Answer

    CFO Russ Houlden confirmed the energy investments are outside the regulatory ring-fence but benefit customers via arms-length contracts that pass Ofwat's scrutiny. CEO Steve Mogford added that the company is positioning itself to be strong in developing markets like business retail and sludge, viewing an offensive strategy as the best defense against competition, and is prepared for potential corporate structure changes.

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