AWG jobs go despite profits boost

United Kingdom water group AWG is back into profit but still plans to cut jobs after its plan to increase charges next year was thwarted by industry regulator Ofwat.

Huntingdon, England based AWG posted profits of £33.9m for the six months to 30 September against losses of £46.5m in the same period last year.

The firm claims its division which manages schools and hospitals for the Government had returned to profit. The core Anglian Water business has also improved despite a wetter summer.

The group said in August that it planned to reduce staff numbers although it is not yet known how many jobs will go.