United Utilities eyes £300m sell-off

UNITED Utilities is priming the pumps for disposals of up to £300m, after it said its telecoms business is to start turning a profit and that buyers are falling over themselves to get their hands on its wind farm plans.

It reported 40% growth at Your Communications, its alternative fixed-line telecoms operator aimed at public sector organisations and smaller businesses in the North-west, which it is reckoned could be sold off for more than £200m.

The company's plans to refinance its green energy business - rated at around £80m - has alerted 'a number of potential outright bidders' to acquire the operations, chief executive John Roberts said.

Group profits for the six months to 30 September were £188m, a 13% rise. The interim dividend is up 2.5% to 14.79p.