MANWEB reports that the company is in excellent shape to seize opportunities of full competition in the energy market, as its parent company ScottishPower reported strong half-year financial results.

The results showed group profits of £240.3 million on a turnover of £1.37 billion, with an interim dividend for shareholders of 6.8p. The figures include a solid six-month performance from Manweb with operating profits of £50 million.

Manweb chief executive Charles Berry said: "I am delighted to be able to announce these strong results, especially as they follow our news that prices for our 90,000 small business customers have been cut. This is the fourth successive cut in prices, in real terms, by Manweb since acquisition by ScottishPower. I also expect soon to announce good news for domestic customers.

"These price cuts, and our strong financial results, have been achieved thanks to savings which have resulted in benefits for our customers under our pledge to give outstanding value for money and excellent service. We are ahead of target for savings this year and cumulatively £5 million ahead of those identified after the takeover in October 1995."

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