Thames Water returns to profit after raising bills

Key developments are emerging from the global stage. Thames Water returns to profit after raising billsImage source, Getty ImagesByMitchell LabiakBusiness reporterPublished15 July 2026, 07:35 BSTUpdated 10 minutes agoThames Water has returned to a full-year profit after hiking its customers bills by 40% last year. The UK's largest water company reported post-tax income of £113m for the 12 months to the end of March, swinging from a £1. 51bn post-tax loss the previous year.

However, the firm's net debt also swelled to £18. 8bn as it said it "continued to fund the business through... debt and internally generated cash flows".

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Chief executive Chris Weston said: "The progress we have made in turning the company around has meant we are now performing better. "The publication of Thames Water's results comes after the government rejected a proposed rescue deal for the business in June. Under the terms of the deal, Thames' lenders wanted leniency from future pollution fines in return for writing off £9.

4bn of its debt pile and investing new money. Thames Water said on Wednesday it has enough debt funding to keep the business going "through to Q4 2026".

The development has drawn wide international attention, with diplomatic circles watching closely.