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Water firm United Utilities saw its earnings north face coats outlet slip 5 per cent as revenue growth was offset by spending on infrastructure.
It posted a pre-tax profit of £124.4million for the half-year to September 30, while revenue rose to £793million from £762million the year before.
Meanwhile the FTSE 100 company, which covers a population of seven million people and 3.2million households and businesses in north west England, hailed a 20 per cent reduction in complaints in the six-month period.
The rise in revenues was mainly due to the regulated price increase, which rises in line with the retail price index rate of inflation.
Capital investment in the half north face coats year was £275million, including £66million of infrastructure renewals, United Utilities said.United announced a 6.7 per cent rise in its half year dividend to 10.67p per shares.
Its stock was down 7.75p at 602.25p in mid-afternoon trading.Chief executive Steve Mogford said: 'This is a good set of results in a tough economic climate.
'Our stronger focus on operational performance is delivering further service improvements for customers and we have reduced customer complaints by 20 per cent in the first half of this year.
Watchdog the Consumer Council for Water issued a report in September showing that United Utilities received more complaints than any of its rivals in the year to March 11, after recording a 6.7 per cent increase to 39,000.CCWater said customer complaints in the water industry as a whole fell 4.5 per cent in that year.
United recently set up a customer experience programme to tackle its high number of complaints, which saw it introduce a new online account service and an overhaul of its telephone system.
The group was one of four companies to meet its leakage target last year and said it had taken measures north face women's denali thermal jacket to protect against extreme winter weather this year to ensure it meets the target for the current year.
View from the CityAngelos Anastasiou, an analyst at broker Investec, said the results were broadly in line with expectations but there was 'scope' for earnings to grow over the next three years.
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