We use cookies to improve site performance and enhance your user experience. If you'd like to disable cookies on this device, please see our cookie management page.
If you close this message or continue to use this site, you consent to our use of cookies on this devise in accordance with our cookie policy, unless you disable them.

Close

registration required

or
for more website access

This content can only be viewed by subscribers and registered users of Investors Chronicle.

Subscribe or register free today

SSE sees profits surge

Underlying pre-tax profits surged 38 per cent to £397m at energy utility SSE (SSE), but these well flagged results still beat analysts' expectations by around 5 per cent. The board also stuck to its dividend policy and confirmed a rise of retail prices index inflation plus 2 per cent to take the payout to around 84p for the full year, adding that future increases will also be above inflation. The reported pre-tax loss in our table reflects a £331m adjustment in the valuation of derivative contracts to hedge commodity prices and borrowing costs as well as £89m for the purchase of emission allowances at the Medway power station.

registration required

visible-status-Standard story-url-SSE_HYResults_14112012.xml

By John Ficenec,
14 November 2012

Print this article
Comments

Related Companies

Register today and get...

Register today and get...
Please note terms & conditions apply