Debt-Ridden Thames Water Will Run out of Funding in May 2025: Report

Crisis-hit Thames Water has announced it has sufficient funds to operate until the end of next year but will continue to seek new sources of funding from potential investors. In its consolidated income statement, the company reported an increase in annual profits to £157.3 million, but according to chief executive Chris Weston, increasing financial resilience remained a “critical priority” for Thames Water. The UK’s biggest water company has reported a debt of £15.2 billion in the year to March. Thames Water said its cash reserves at the end of June amounted to £1.8 billion. This is a drop of £0.6 billion from the firm’s liquidity, reported in April....