Water supplier Severn Trent made pre-tax profits of £568 million in the last year, the company confirmed today.

Severn Trent, which owns Powys water supplier Hafren Dyfrdwy, also achieved revenues of £1.84 billion – a 4.3 per cent increase on its performance in the previous year.

In its full-year results, the water giant also said that it had reduced supply interruptions in the Hafren Dyfrdwy area by 66 per cent, and cut leaks across the area by 13 per cent.

It also completed a £14 million investment in a new reservoir in Wrexham to support its water supply in years to come.

Liv Garfield, Hafren Dyfrdwy chief executive, said: “We’re proud to still be working to make sure the homes, businesses and hospitals we serve have the supplies they need, while also giving back to the communities in which we live and work.

“We continue to invest heavily in our region and have millions of pounds more planned for the coming years, to make sure our customers have the best possible service.”

The company also warned of the impact of the coronavirus on its performance, however, and expects some customers to be unable to pay their bills because of the outbreak.

Ms Garfield added: "However, the last few weeks have been extraordinary; not only for our business, but for the country.

"I want to say thank you to all of my awesome colleagues; it has been a challenging time, and across each and every part of the business, they have shown amazing commitment to ensuring our customers have continued access to one of life's essentials.

"We know that this is a difficult time for our customers, and I am incredibly proud of the ways in which the business has responded."

The company has not furloughed any staff during the crisis, but has created a £30,000 emergency fund to support community groups in the battle against the vdisease.

It also pledged to pay all of its small and medium-sized suppliers immediately.