Extra 750 mln stg to fund turnaround
Company had wanted 1 bln stg
Will need 2.5 bln stg 20252030
Gearing falls to 77
FY revenue up 4 to 2.3 bln stg

LONDON, July 10 Reuters Thames Water said on Monday its investors had agreed to pump 750 million pounds 960 million into Britain39;s biggest water company but the troubled business warned it would need even more new equity in the years ahead.

Thames Water, weighed down by 14 billion pounds of debt and under pressure over its environmental record, had told shareholders it needed 1 billion pounds to help fund its turnaround.

British ministers have been monitoring Thames Water amid fears it could need a government rescue if shareholders refused to invest more. It serves around 15 million customers or more than a fifth of Britain39;s population.

While the extra equity announced on Monday will help stabilise the balance sheet, Thames Water warned that over the 20252030 period it would need further equity in the region of 2.5 billion pounds.

Shareholders have also acknowledged that delivery of the turnaround plan is likely to require the provision of further equity support, Thames Water said.

Worries over its financial viability surfaced in late June, when its CEO abruptly quit and it brought in new interim cochief executives and a new chairman, aimed at hastening the turnaround following regular sewage releases from creaking infrastructure.

The 750 million pound investment is subject to Thames Water improving the…