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<p>On this page you will find Portsmouth Water's latest Annual Report and our regulatory Annual Performance Report, as well as a historical record of past versions. Each year, in these reports we include information about our financial performance and our outcomes performance. We also report on our governance and assurance procedures as a business.</p>

<h2>Our latest financial documents</h2>

<img src="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/06/Annual-Report-and-Accounts-24-25.png" alt="Kingfisher on a log"/>
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<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/06/PW_Annual_Reporting_Accounts_2025.pdf">https://www.portsmouthwater.co.uk/wp-content/uploads/2025/06/PW_Annual_Reporting_Accounts_2025.pdf</a>
Annual report and accounts

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<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/07/PRT-Annual-Performance-Report-2025.pdf">https://www.portsmouthwater.co.uk/wp-content/uploads/2025/07/PRT-Annual-Performance-Report-2025.pdf</a>
Annual Performance Report 2024

Read the Annual Report & Accounts
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/06/PW_Annual_Reporting_Accounts_2025.pdf">https://www.portsmouthwater.co.uk/wp-content/uploads/2025/06/PW_Annual_Reporting_Accounts_2025.pdf</a>
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Read the Annual Performance Report
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/07/PRT-Annual-Performance-Report-2025.pdf">https://www.portsmouthwater.co.uk/wp-content/uploads/2025/07/PRT-Annual-Performance-Report-2025.pdf</a>
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<h4>What you'll find in Portsmouth Water's Annual Report and Accounts</h4><p>Explore the highlights of the past year from our operational delivery and strategic programmes, understand the challenges we have faced and our ongoing investments to continue to supply high quality water to over 740,000 customers each day. </p><p><strong>Read more about:</strong></p><ul><li>Strategy and Delivery</li><li>Sustainability</li><li>Governance </li><li>Financial Statements</li></ul>

<h4>What you'll find in Portsmouth Water's Annual Performance Report</h4><p>Our Annual Performance Report is a comprehensive document we produce each year. This report provides a detailed overview of our performance against regulatory requirements and commitments. This report is reviewed by the water regulator, Ofwat,</p><p><strong>In this document read more about:</strong></p><ul><li>Regulatory Financial Reporting</li><li>Performance Summary </li><li>Regulatory Information and Reports</li></ul>

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<h4>Additional documents and historical records</h4>

Annual Report and Accounts - Previous Years: <!-- Load Source Sans Pro Semibold from Google Fonts -->
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<h4>Select the year you would like to view</h4>

<table style="font-family: 'Source Sans Pro', sans-serif; font-size: 16px; line-height: 1.6; font-weight: 600;">
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      <td><a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2024/07/PWL-Annual-Report-Accounts-FY24-FINAL-website.pdf">Annual Report and Accounts 2024</a></td>
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      <td><a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2023/07/REPORT-ACCOUNTS-2023_FINAL_SIGNED.pdf">Annual Report and Accounts 2023</a></td>
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      <td><a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2022/07/REPORT-ACCOUNTS-2022_FINAL_SIGNED.pdf">Annual Report and Accounts 2022</a></td>
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      <td><a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2021/06/Portsmouth-Water-Limited-Report-and-Accounts-FY21.pdf">Annual Report and Accounts 2021</a></td>
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      <td><a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2020/06/REPORT-ACCOUNTS-2020.pdf">Annual Report and Accounts 2020</a></td>
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      <td><a href="/wp-content/uploads/2019/05/REPORT-ACCOUNTS-2019-FINAL.pdf">Annual Report and Accounts 2019</a></td>
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      <td><a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2018/06/REPORT-ACCOUNTS-2018.pdf">Annual Report and Accounts 2018</a></td>
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      <td><a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/REPORT-ACCOUNTS-2017.pdf">Annual Report and Accounts 2017</a></td>
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      <td><a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/REPORT-ACCOUNTS-2016.pdf">Annual Report and Accounts 2016</a></td>
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      <td><a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/Report-Accounts-2015.pdf">Annual Report and Accounts 2015</a></td>
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Regulatory Accounts: <table style="width: 100%; font-family: 'Source Sans Pro', sans-serif; font-size: 16px; font-weight: 600; line-height: 1.6; border-collapse: collapse;">
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    <!-- 2025 -->
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      <td style="vertical-align: top; padding: 8px; width: 180px;">2025</td>
      <td style="padding: 8px;">
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/07/PRT-Accounting-Separation-Methodology-Statement-2025.pdf">Accounting Separation Methodology Statement 2025</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/10/Annual-Performance-Report-Data-Tables-2025-Oct-25-resubmission-corrected.xlsx">Annual Performance Report Data Tables 2025</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/07/PRT-APR-Table-4B-2024-25.pdf">Table 4B Analysis of Debt 2025</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/07/PRT-APR-Table-4L-2024-25.pdf">APR Table 4L - 2024-25</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/07/PRT-APR-Table-4L-2024-25-Cumulative.pdf">APR Table 4L - 2024-25 Cumulative</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/10/ODI-Performance-Model-2025-Oct-25-resubmission-corrected.xlsx">ODI Performance Model 2025</a>
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    <!-- 2024 -->
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      <td style="vertical-align: top; padding: 8px; width: 180px;">2024</td>
      <td style="padding: 8px;">
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2024/07/PW_Annual-Performance_2024-website.pdf">Annual Performance Report 2024</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2024/07/Methodology-Statement-Accounting-Separation-2024.pdf">Accounting Separation Methodology Statement 2024</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2024/07/Annual-Performance-Report-data-Tables-2024.xlsx">Annual Performance Report Data Tables 2024</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2024/07/APR-Table-4L-2023-24.pdf">APR Table 4L - 2023-24</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2024/07/APR-Table-4L-2023-24-Cumulative.pdf">APR Table 4L - 2023-24 Cumulative</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2024/07/ODI-Performance-Model-2024.xlsx">ODI Performance Model 2024</a>
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    <!-- 2023 -->
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      <td style="vertical-align: top; padding: 8px;">2023</td>
      <td style="padding: 8px;">
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2023/07/PW_Annual-Performance_2023_FINAL.pdf">Annual Performance Report 2023</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2023/07/Methodology-Statement-Accounting-Separation-2023.pdf">Accounting Separation Methodology Statement 2023</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2023/11/2022-23-annual-performance-report-excl-tables-3A-3Iv1.1-PRT-23Nov.xlsx">Annual Performance Report Data Tables 2023</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2023/07/Table-4B.pdf">Table 4B Analysis of Debt 2023</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2023/07/Table-4L.pdf">Table 4L Enhancement expenditure 2023</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2023/07/Table-4L-YTD.pdf">Table 4L YTD Enhancement expenditure 2023</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2023/11/PRT-FINAL-PR19IPD01_ODI-performance-model-v1.10-mid-year-update.xlsx">ODI performance model 2023</a>
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    <!-- 2022 -->
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      <td style="vertical-align: top; padding: 8px;">2022</td>
      <td style="padding: 8px;">
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2022/07/ANNUAL-PERFORMANCE-REPORT-AS-AT-7-JULY-2022.pdf">Annual Performance Report 2022</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2022/07/Methodology-Statement-Accounting-Separation-2022.pdf">Accounting Separation Methodology Statement 2022</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2022/07/2021-22-annual-performance-report-tables_Reissue300522-Master.xlsx">Annual Performance Report Data Tables 2022</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2022/07/Table-4B-Analysis-of-Debt.pdf">Table 4B Analysis of Debt 2022</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2022/07/Table-4L-Enhancement-expenditure.pdf">Table 4L Enhancement expenditure 2022</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2022/07/Table-4L-YTD-Enhancement-expenditure.pdf">Table 4L YTD Enhancement expenditure 2022</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2022/07/PR19IPD01_ODI-performance-model-v1.7-FINAL.xlsx">ODI performance model 2022</a>
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    <!-- 2021 -->
    <tr>
      <td style="vertical-align: top; padding: 8px;">2021</td>
      <td style="padding: 8px;">
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2021/11/ANNUAL-PERFORMANCE-REPORT-AS-AT-9-SEPTEMBER-v1.pdf">Annual Performance Report 2021 (revised)</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2021/11/Log-of-changes-to-APR-Sept-2021.pdf">Log of Changes to APR 2021</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2021/07/ANNUAL-PERFORMANCE-REPORT-AS-AT-9-JULY-v4.pdf">Annual Performance Report 2021</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2021/07/Methodology-Statement-Accounting-Separation-2021.pdf">Accounting Separation Methodology Statement 2021</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2021/07/Table-4L-Enhancement-expenditure.pdf">Table 4L Enhancement expenditure</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2021/07/Table-4B-Analysis-of-Debt.pdf">Table 4B Analysis of Debt</a>
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    <!-- 2020 -->
    <tr>
      <td style="vertical-align: top; padding: 8px;">2020</td>
      <td style="padding: 8px;">
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2020/10/2020-RegAccounts-250620-final-signed-Revised-Sept-2020.pdf">Annual Performance Report 2020</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2020/07/Methodology-Statement-Accounting-Separation-2020-1.pdf">Accounting Separation Methodology Statement 2020</a>
      </td>
    </tr>

    <!-- 2019 -->
    <tr>
      <td style="vertical-align: top; padding: 8px;">2019</td>
      <td style="padding: 8px;">
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2019/07/Annual-Performance-Report-2019-signed.pdf">Annual Performance Report 2019</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2019/07/Methodology-Statement-Accounting-Separation-2019.pdf">Accounting Separation Methodology Statement 2019</a>
      </td>
    </tr>

    <!-- 2018 -->
    <tr>
      <td style="vertical-align: top; padding: 8px;">2018</td>
      <td style="padding: 8px;">
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2018/07/2018-Reg-Accounts-Final-130718.pdf">Annual Performance Report 2018</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2018/07/Methodology-Statement-Accounting-Separation-2018.pdf">Accounting Separation Methodology Statement 2018</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2018/07/AMP6-Portsmouth-Assurance-Report-2017-18_V5.1.pdf">APR Assurance Report 2017/18 – Atkins</a>
      </td>
    </tr>

    <!-- 2017 -->
    <tr>
      <td style="vertical-align: top; padding: 8px;">2017</td>
      <td style="padding: 8px;">
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/Annual-Performance-Report-2017.pdf">Annual Performance Report 2017</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/Methodology-Statement-Accounting-Separation-2017-PRT.pdf">Accounting Separation Methodology Statement 2017</a>
      </td>
    </tr>

    <!-- 2016 -->
    <tr>
      <td style="vertical-align: top; padding: 8px;">2016</td>
      <td style="padding: 8px;">
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/2016-Annual-Perf-Report-.pdf">Annual Performance Report 2016</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/Methodology-Statement-Accounting-Separation-Upstream-Services-2016.doc">Accounting Separation Methodology Statement 2016</a>
      </td>
    </tr>

    <!-- 2015 -->
    <tr>
      <td style="vertical-align: top; padding: 8px;">2015</td>
      <td style="padding: 8px;">
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/Regulatory-Accounts-2015.pdf">Regulatory Accounts</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/Methodology-Statement-Accounting-Separation-Tables-2015.pdf">Accounting Separation Methodology Statement</a><br>
        <a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/Methodology-Statement-Accounting-Separation-Upstream-Services-2015.pdf">Accounting Separation Methodology Statement – Upstream Services</a>
      </td>
    </tr>

  </tbody>
</table>

Unaudited Interim Results: <h5>For the Six Months Ended 30 September 2025</h5>
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2025/12/PWL-HALF-YEAR-REPORT-30SEP2025.pdf">Unaudited Interim Results for the six months ended 30 September 2025</a><br>
<h5>For the Six Months Ended 30 September 2024</h5>
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2024/12/PWL-Half-Year-Report-30Sep2024-FINAL.pdf">Unaudited Interim Results for the six months ended 30 September 2024</a><br>
<h5>For the Six Months Ended 30 September 2023</h5>
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2024/01/PWL-HALF-YEAR-REPORT-30-SEP-2023-LOW-RES_FINAL.pdf">Unaudited Interim Results for the six months ended 30 September 2023</a><br>
<h5>For the Six Months Ended 30 September 2022</h5>
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2023/10/PWL-INTERIM-ACCOUNTS-FOR-HALF-YEAR-TO-30-SEPTEMBER-2022.pdf">Unaudited Interim Results for the six months ended 30 September 2022</a><br>
<h5>For the Six Months Ended 30 September 2021</h5>
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2021/12/PORTSMOUTH-WATER-LIMITED-HALF-YEAR-REPORT-2021-22.pdf">Unaudited Interim Results for the six months ended 30 September 2021</a><br>
<h5>For the Six Months Ended 30 September 2020</h5>
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2020/12/HALF-YEAR-REPORT-2020-AS-AT-30-NOVEMBER-2020-v4.pdf">Unaudited Interim Results for the six months ended 30 September 2020</a><br>
<h5>For the Six Months Ended 30 September 2019</h5>
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2019/11/HALF-YEAR-REPORT-2019-AS-AT-28-NOVEMBER-2019-v2.pdf">Unaudited Interim Results for the six months ended 30 September 2019</a><br>
<h5>For the Six Months Ended 30 September 2018</h5>
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2018/11/Half-year-end-results-2018.pdf">Unaudited Interim Results for the six months ended 30 September 2018</a>.<br>
<h5>For the Six Months Ended 30 September 2017</h5>
<a href="/wp-content/uploads/2015/05/Half-year-end-results-2017.pdf" target="_blank" rel="noopener noreferrer">Unaudited Interim Results for the six months ended 30 September 2017.</a><br>
<h5>For the Six Months Ended 30 September 2016</h5>
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/UnauditedInterimResults2016.pdf" target="_blank" rel="noopener noreferrer">Unaudited Interim Results for the six months ended 30 September 2016.</a><br>
<h5>For the Six Months Ended 30 September 2015</h5>
<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/UnauditedInterimResults2015.pdf" target="_blank" rel="noopener noreferrer">Unaudited Interim Results for the six months ended 30 September 2015.</a>


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<h4>The document below details our Tax Strategy</h4>

<a href="https://www.portsmouthwater.co.uk/wp-content/uploads/2015/05/TAX-STRATEGY.pdf" target="_blank" rel="noopener noreferrer">Portsmouth Water Tax Strategy</a><br>

Portsmouth Water is considering its current debt structure in the context of the forthcoming PR19 price review by Ofwat.
As part of that review, Portsmouth would consider exploring options around its loan with Artesian Finance plc, including repurchasing bonds backed by the associated Portsmouth obligations.
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