Thames Water half-year profit leaps to nearly £400m after it raises bills by third

Thames Water has reported a leap in half-year profits to £414m after bills rose by nearly a third, even as it warned it faced huge funding uncertainties that could result in a rapid collapse into government control.

Britain’s biggest water company on Wednesday said it had swung into profit for the six months to September, after losing £149m in the same period in 2024.

Revenues jumped by 40% to nearly £2bn after the company was allowed to raise customers’ bills by 31% in April . Thames Water insisted that it was making good operational progress, helped by a 22% increase in investment to £1.26bn, paid for by the bills increases.

Yet despite the jump reported profits, the company warned there was “material uncertainty which may cast significant doubt” on its status as a going concern.

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