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Thames Water profits drained by weather woes as Brexit fears bubble up

Two of the most extreme weather events in the history of the company happened within the last six months, Thames Water boss Steve Robertson said

Thames Water’s battle against the British weather has sapped profits at the utility as it prepares to shore up its defences against the threat of a no-deal Brexit.

The beleaguered water supplier suffered a double blow of extreme weather this year after freezing temperatures ripped through the company’s water pipes over the winter before giving way to one of the driest summers on record.

Record leaks and the resulting scramble to source enough water for its 15 million customers over the summer drained its profits before tax to £67.7m in the year to Sept 30 from £218.5m last year.

Steve Robertson, Thames Water’s chief executive, said profits fell in large part because the group “brought forward…

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