Jersey Water’s 2024 Profits Fall Due to Higher Expenses

Jersey Water has announced a decrease in its total annual profits, attributing the decline to increased costs. Despite achieving an operating profit of £2.8 million in 2024, the utility company’s overall profit for the year was £943,000, which is lower than the £1.3 million recorded in the previous year. Even with the reported rise in costs this year, the company affirmed its continued commitment to being “focused on the future,” aiming to enhance its financial performance and profitability while addressing “critical strategic risks.” Heather MacCallum, chair of Jersey Water, described 2024 as “a year of steady progress and delivery” for the company. In its annual report, the firm documented high water quality and customer satisfaction, alongside a 5.5% reduction in leaks in 2024. Regarding water quality, the company stated that 99.95% of all its samples, whether sourced from treatment works, reservoirs, or taps, met the required regulatory standards. The report indicated that Jersey Water invested nearly £5.5 million in its capital programme throughout the year. Ms. MacCallum stated: “Our commitment to delivering high levels of service and water quality for our customers remains at the heart of everything we do.” She further added, “Equally, it is critical that we make strategic investments to enhance our water supply infrastructure and services for the future.” Concluding, she remarked, “We are confident that, by adopting a balanced approach to both our operations and our resources, Jersey Water will be well-positioned for continued success in the years ahead.” Helier Smith, Jersey Water’s chief executive, expressed satisfaction with the company’s annual performance, while also acknowledging the necessity to respond to “specific risks” to ensure “a safe, reliable and resilient water supply.”