Severn Trent has announced a £43 million investment and new jobs for Staffordshire as it celebrates half-year profits almost tripling.
Forty-nine jobs will be created in the county as the water company invests in delivering 64 miles of pipes.
It is part of a larger £415 million investment plan to install 870 miles of new water pipes and a create 440 jobs across the region.
News of the investment was revealed alongside Severn Trent’s latest interim results, which show reported profit for the for the six months to 30 September 2024 was £141.4 million, up from £51.6 million in the same period of 2023.
Revenue was up to £1.21 billion from £1.16 billion and profits before interest and tax hit £297.8 million, up from £255.1 million.
Severn Trent also reported its highest year ever of capital investment, forecasting to the upper end of its £1.3 billion to £1.5 billion guidance range.
CEO Liv Garfield said she is “proud” of the company’s recent achievements, including hitting targets on leakage and blockages and being given a four-star rating from the Environment Agency for five consecutive years.
She added: “But we know there is more to do. The Outstanding rating we received for our plan gives us visibility and confidence to make a fast start on the biggest investment programme in our history.
“We are implementing the sector’s most ambitious storm overflow improvement plan at pace, while also creating 7,000 jobs across our region, including a new 440-strong team of experts dedicated to our water pipe replacement programme. We are going further and faster than ever before and have a great platform to deliver huge benefits for our region in the years ahead.”
Regarding the new pipe replacement programme, she said: “This is a hugely ambitious project – one of the largest of its kind in decades. We are pleased to be providing a massive boost to jobs, as well as laying miles of new water pipes across the region which will allow customers to enjoy the best water quality for years to come.
“Upgrading our pipes isn’t just about making improvements today; it’s about creating a more secure water future and investing in our communities for generations to come.
“We’re building a brand-new team to make this happen and we’re proud to welcome so many new people into the Severn Trent family in the next year.”
The firm says the new pipes are made from modern materials that can last up to 100 years, meaning fewer leaks, better water quality, and will provide a more reliable service.
The new pipes in Staffordshire will be across the county, but exact locations have not yet been decided.
Recruitment has already begun.
