WHINGING water chiefs have moaned that their profits have slumped - to a mere &pound;246.4million in six months.
Utility giant Thames Water revealed a 54% drop in pre-tax profits in the half-year to September 30.
Revenues rose 12% to &pound;1.3billion&nbsp;but it spent a record &pound;1bn on improving its net work. The results also revealed its debt pile swelled by 7% to &pound;14.7bn.
It come just days after it emerged that auditors of Thames Water's parent company had warned it could run out of money by next April if shareholders do not pump in more cash.
Interim bosses said "immediate and radical action" was needed to improve performance.
They added: "Turning around Thames will take time.
"We simply cannot do everything that our customers and stakeholders wish to see at a pace and for a price that everyone would like. We'll continue to make tough choices."

WATER DRIPS BLEAT: PROFITS DRYING UP

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