United Utilities has reported underlying pre-tax profits of £475.6 million - an increase of 17 per cent on last year.

The Warrington-based electricity and water distribution company saw its revenues rise by 19 per cent to £2.36 billion.

Moreover, capital expenditure on infrastructure climbed 45 per cent to £826 million.

United Utilities chief executive Philip Green said: "We remain on course to return £1.5 billion to shareholders and I am pleased to report another good set of financial results."

"Continued investment in our assets will help to raise environmental standards further and improve the service we offer to customers."

At the end of last year, United Utilities announced it had completed the sale of its electricity distribution assets to North West Electricity Networks for £1,782 million.

United Utilities is among a number of companies that have partnered with the Liverpool Culture Company in sponsorship of Liverpool Capital of Culture 08.