Severn Trent has announced 1,000 new jobs for the Midlands as its turnover topped £2 billion.
Revealing its latest annual results yesterday the water company – which supplies businesses and homes across Staffordshire and further afield – also confirmed it will deliver an investment programme worth more than £2.5 billion on network improvements and projects spanning the Midlands over the next two years.
The results for the year to 31 March 2023 show turnover hit £2.16 billion, up from £1.94 billion in 2022.
Profits before interest and tax went from £506.2 million to £508.8 million during the same period.
The 1,000 new jobs builds on the company’s ten year programme to help 100,000 people out of water poverty by 2032, giving people the skills and support to help find work.
As part of its new jobs for the region, Severn Trent is also set to take on 65 graduate placements and 60 summer internships.
It will also welcome 130 new apprentices this year, its largest ever intake, as previously reported in Daily Focus.
Liv Garfield, Chief Executive of Severn Trent, said: “Creating job opportunities, continuing significant regional investment, and financially supporting more customers than ever before is made possible by the strong results we have delivered this year.
“At a time when unemployment rates in our region are increasing and the cost-of-living crisis is still front and centre of many customers’ minds, we are proud to be able to create 1,000 jobs in our region over the next couple of years and to further help up to 50,000 customers with financial support.
“This, coupled with our long-term programme to help people into work, go towards truly supporting the communities we serve.”
She added: “This support is being delivered whilst continuing with the multibillion-pound investment in the region to improve water and waste services, providing an exceptional service and investing in our people who go above and beyond every day to make a positive impact in our region.
“We are expecting the biggest investment period the sector has ever seen, with a focus on water resources, improving environmental standards and on Net Zero, and we feel more than ready for this exciting opportunity ahead of us.”
Severn Trent, which says its bills remain the second lowest in the country, has also pledged to support 315,000 people a year with paying their water bill by 2025. Up to 50,000 of these customers will now also receive additional financial debt support.
