Thames Water Faces Financial and Environmental Challenges

Interim Chief Executives Assure Turnaround Amid Rising Debts and Pollution Incidents

Thames Water, the UK's largest water company, is facing financial difficulties with debts rising 7% to £14.7bn, and profits for the first half of its financial year halving to £246m.
The company's two interim chief executives have stated that immediate and radical action is required for a turnaround, which will take time.
Thames Water's financial strength has been questioned, leading to speculation it might be taken over by the government, but the executives have assured that it will not be necessary as it has more than £3bn in cash and recently received a £500m cash injection from its shareholders.
However, the source of the cash injection has been disputed, with concerns that it was not equity, but debt taken on by the parent company.
The company's environmental performance has also been criticized, with the number of pollution incidents increasing during the six months to September, and the company admitting its performance had deteriorated.