- Paid no corporation tax
- Received a £5million credit from the Treasury
- Revenues rose by £1.8million
- Made £549million in underlying pre-tax profits
- Increased bills by inflation-busing 6.7%
- Chief Executive Martin Baggs will receive pay rise to £450,000 plus a £274,000 bonus
- Mr Baggs in line to collect a further £366,000 next month as part of a long-term incentive plan
- Firm said its taxable profits were reduced by allowances on its £1 billion-a-year investment programme
- Leakage of 646 million litres a day, up from 637 million litres
Thames Water, the UK's biggest, which supplies homes in Wiltshire, paid no corporation tax and received a £5million credit from the Treasury, in the same year that its revenues rose by £1.8million.
It made £549million in underlying pre-tax profits, at the same time raising bills by 6.7%.
The figures come in the wake of criticism by Jonson Cox, chairman of regulator Ofwat, that the high profits and tax-reducing corporate structures of some water companies were 'morally questionable'.
Thames Water said its taxable profits were reduced by allowances on its £1 billion-a-year investment programme, and remaining gains were offset by tax losses claimed from other members of the group.