00:00So yes, the latest update from troubled Thames Water. They say they remain locked in talks
00:11over its proposed rescue deal with creditors. It has revealed soaring revenues but also
00:18perhaps unsurprisingly soaring customer complaints due to bill hikes. Thames Water is of course
00:25Britain's largest water supplier but it's currently about a staggering 20 billion pounds
00:31in debt. They are in talks with a consortium of its main creditors named London and Valley
00:38Water which has submitted plans to pump investment into the utility and write off debts in return
00:45for more lenient performance targets. But Thames Water warned there was still a material
00:52uncertainty over whether the deal would be secured and therefore its ability to continue
00:59as a going concern. Half-year results from the provider revealed underlying earnings surged
01:07to 1.2 billion pounds for the six months to September 30th compared with 750 million pounds
01:14a year ago. Revenues rose by 42 percent thanks to those bill increases which it also said helped
01:20fund 1.3 billion pounds of capital invested to fix. Leaks cut sewage stills and improve
01:26water quality. It said it cut pollution stills by a fifth but also revealed customer complaints
01:32had soared by three quarters to over 55,000 after those bill hikes by a hefty 31 percent in April.
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