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United Utilities full-year profit drops about 18% as lockdowns hit water usage

May 27 (Reuters) - UK’s United Utilities Group Plc reported a 17.8% drop in full-year underlying operating profit on Thursday, hit by lower water consumption after offices closed due to coronavirus lockdowns and higher infrastructure spending.

The company, one of the largest publicly traded water companies in the country, said underlying profit was 602.1 million pounds ($849.62 million) for 12 months ended March 31, from 732.1 million pounds a year earlier. ($1 = 0.7087 pounds) (Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich)

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