United Utilities Group PLC on Thursday reported a fall in profit as the company invests in reducing its environmental impact.

The Warrington, England-based water and wastewater services provider said pretax profit fell 51% in the year ended March 31 to £170.0 million from £256.3 million the year prior.

Revenue rose 8.3% to £1.95 billion from £1.80 billion over the same period.

Following these results, the company announced a final dividend of 33.19 pence per share, up from 30.34p.

The total dividend for the year stands at 49.78p, representing a 9.4% increase from 45.51p.

Chief Executive Officer Louise Beardmore commented: ‘I am pleased to report that we have met or exceeded around 80% of our regulatory targets, and we have also been ranked as the number one water and sewerage company for customer service in the independent UK Customer Service Index...our finances are robust with one of the lowest levels of gearing in the sector.’

During the year, United Utilities carried out a number of significant investments as part of its plan to improve services and reduce environmental impact in the wake of the UK water scandal.

The company confirmed guidance for the current fiscal year, expecting to see revenue growth of approximately 10% alongside capital expenditure in the range of £850 million to £1.1 billion.

United Utilities shares were down 2.9% to 1,080.00 pence each in London on Thursday morning.

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