This item was published during the term of a previous administration that ended in April 2007
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Scottish Water Annual Report
19/08/2004
Welcoming the publication of Scottish Water's Accounts
for the year to March 31, 2004, Environment Minister Ross
Finnie said:
"These accounts show that Scottish Water is making real
progress in improving its efficiency.
"Expressed as a percentage of turnover, the gross
surplus has increased by 2.1 per cent to 41.5 per cent
whilst administrative expenses have been reduced by 3 per
cent to produce an operating surplus of £277.3 million an
increase of 5 per cent on the previous year.
"This shows that since Scottish Water was established in
2002 it has delivered savings in excess of £1 million per
week in real terms.
"Continuing improved levels of efficiency are the key to
ensuring that customers' bills are kept to the minimum.
"The accounts confirm the slower than hoped for level of
capital investment but I am encouraged that the Scottish
Water Solutions partnership is showing real signs of
tackling the problems and I expect to see the pace of
investment pick up over the next two years.
"Scottish Water is making real progress in dealing with
its inheritance of substantial operating inefficiencies and
massive underinvestment.
"There is no room for complacency and the Scottish
Executive expects Scottish Water to meet all the targets
that have been set."
Scottish Water was formed in 2002 from the three
previous Water Authorities - East, West and North of
Scotland Water - and this is the second annual report.
The four-year Strategic Review period runs from April 1,
2002, to March 31, 2006, and Scottish Water has been set
challenging targets for both operations and capital
procurement.
The first annual report and accounts for Scottish Water
Solutions is also published today, and copies are available
on Scottish Water's website. Scottish Water Solutions was
created in July 2003 and will deliver around 70 per cent of
the current capital investment programme.
Two consultations on the future of Water Services were
launched by the Scottish Executive in July: