SALES grew by 8.5% at Jersey Water last year to £22.9m, driven by a 5.7% increase on customer bills and higher than expected water consumption in the first half of the year.
Pre-tax profit at the utility – which is 74% owned by taxpayers – almost doubled from £1.4m in 2024 to £2.7m and the company paid a £1.8m dividend to the Treasury.
However, earnings before interest, taxes, depreciation and amortisation – a key measure of financial performance – rose by 5.7% from £6.07m to £6.41m.
The company also spent £9.3m on capital expenditure last year and committed another £48m between now and 2030.
The company has recently moved to a new headquarters at Rue des Prés.
Describing the financial results as “steady progress”, Chief Executive Officer Helier Smith said: “Our operating profit grew by 10.2% to £3,086k, exceeding our target, thanks to careful cost management.”
He added: “Although operating costs rose due to inflation, risk management and key projects like PFAS research and our new headquarters, we made savings of £500k to help these extra costs.
“Overall profit more than doubled to £1,968k (2024: £943k), helped by accounting gains from our interest rate derivative and low net finance costs.”
Mr Smith said that 2024 – one of the wettest years on record – had been followed by one of the driest.
“The year was a stark reminder of the Island’s vulnerability to drought and the need for us to act now to secure our water supply for the future.”
Jersey Water supplier 7,138m litres of water in 2025, with 2.5m litres leaking every day of the year – up by 457m litres on 2024, which more 300m litres above the utility’s target.
In better news, the company completed its smart metering trial and renewed more than 1 km of mains pipes on time and on budget.
In 2025, the company was also 100% compliant with water quality regulations and with UK and EU standards for the ‘forever chemical’ PFAS.
This January, Jersey Water increased bills again, by 15.5%, adding approximately £59.48 per year, or 16p per day, to the average household bill.
