United Utilities has announced a mixed set of annual results.

The company, which supplies water in Cumbria, posted a pre-tax profit of £442.4m for the year to the end of March, up from £353.5m in 2016.

On an underlying basis though, these decreased to £389.4m from £408.1m, as growth in underlying operating profit was hindered by a £36m in expenses.

Revenue fell by £26m to £1.70bn, attributed to its WaterPlus joint venture with Severn Trent.

It made a total capital investment of £804m and plans to make an additional £100 million of new investment money available to the end of the decade.

"We have delivered a strong performance for our customers, shareholders and the environment in this second year of the 2015-20 regulatory period. This performance combined with our confidence in delivering a net outperformance over the regulatory period has enabled us to commit to a further £100m of additional investment in the region. This will support our resilience projects bringing additional customer benefits over the next three years," said chief executive Steve Mogford.

"Our performance in the early part of this regulatory period puts us in an industry leading position and demonstrates that we are well placed to deliver further value for customers, shareholders and the environment. This is supported by a robust capital structure and good credit ratings," Mr Mogford added.