Pennon shares rise despite profit warning as storm costs and sewage penalties bite

Pennon shares rise despite profit warning as storm costs and sewage penalties bite Proactive uses images sourced from Shutterstock Shares in Pennon Group PLC (LSE:PNN, OTC:PEGRY) rose 3.4% to 553.5p on Tueaday morning despite the owner of South West Water saying full-year profitability would come in at the lower end of market expectations. The FTSE 250 water company said exceptional rainfall and storm-related disruption have pushed up costs. Underlying EBITDA was tracking around 55% higher year on year ...