Sse Share Discussion Threads

[wad collector] 21/11/2014 17:47

Marked as a Sell in the Times this week at 1536p , thinks with warmer weather , poor wind farm performance and the Competition inquiry that it won't be able to sustain the yield.
Personally I suspect that a few months of slightly warm weather does not define the future earnings of SSE. And they are wrong on the share price so far.....currently 1594.

[wad collector] 18/11/2014 12:02

Thanks for that .

Looks like we might see a 12 month high soon.(1601)

[bountyhunter] 13/11/2014 12:44

Dividend info updated in header.

[skinny] 12/11/2014 15:39

Or to put it another way :-

[lord gnome] 12/11/2014 14:24

That clarifies everything nicely. Thanks Skinny. :-))

[skinny] 12/11/2014 14:19

Morgan Stanley Overweight 1,534.00 - - Reiterates

Credit Suisse Outperform 1,534.00 1,700.00 1,700.00 Reiterates

Liberum Capital Hold 1,534.00 - 1,530.00 Reiterates

Citigroup Sell 1,534.00 - 1,390.00 Reiterates

[zcaprd7] 12/11/2014 08:34

Not amazing. But dividend is up....

[skinny] 12/11/2014 07:03

£326.4m DISPOSAL OF STREETLIGHTING PROJECTS

SSE has completed the sale, to Equitix Infrastructure 3 Limited (Equitix), of its 100% equity interest in the special purpose entities (SPEs) established in England under the Private Finance Initiative (PFI), for the delivery of seven street lighting projects.

The SPEs are funded through a mix of senior debt and equity, and the removal of this project-related senior debt, along with the cash consideration of £97.5m, will have the immediate effect of reducing SSE's net debt by £326.4m.

The project SPEs have a 25 year agreement with their respective local authorities, under which they have the responsibility for the replacement, operation and maintenance of the street lighting assets of that local authority. Those operational responsibilities are being, and will continue to be, carried out by SSE Contracting Limited under a parallel 25-year sub-contract with the Equitix-owned SPEs.

SSE's remaining street lighting asset portfolio, which comprises equity interests in four further PFI projects, will be made available for purchase in the next few months.

Gregor Alexander, Finance Director of SSE, said:

"I believe this is a good deal for Equitix, SSE and the local authorities concerned. For SSE, I
am pleased that this important milestone in our value programme has been reached and that SSE Contracting Limited will have the opportunity to play to its strengths by providing the operational services that Equitix and the local authorities need for remainder of the life of the PFI contracts."

[skinny] 12/11/2014 07:02

Lord Gnome :-)



For the six months to 30 September 2014 (comparisons with the same six months in 2013, unless otherwise stated):

· Adjusted earnings per share* rose by 5.8% to 31.1 pence;
· Adjusted profit before tax* rose by 4.6% to £370.3m;
· Reported profit before tax fell by 6.2% to £316.6m;
· Investment and capital expenditure fell by 15.5% to £679.3m;
· Adjusted net debt and hybrid capital rose by £185.6m to £7,907m; and
· Interim dividend increased by 2.3% to 26.6 pence per share.

*Adjusted profit before tax describes profit before tax before exceptional items and re-measurements arising from IAS 39, excluding interest costs on net pension scheme liabilities and after the removal of taxation on profits from joint ventures and associates
In addition, on 15 October 2014, Standard and Poor's affirmed SSE's 'A-/A-2' ratings and improved the rating outlook from negative to stable.

Finance - business-by-business operating profit
For the six months to 30 September 2014 (comparisons with the same period in 2013, unless otherwise stated); operating profit is before payment of interest and tax:

Wholesale - operating profit of £26.7m, down 83.4%

· Energy Portfolio Management and Electricity Generation operating profit fell by 86.3% to £11.8m, reflecting lower output of electricity from renewable and thermal sources;
· Gas Production operating profit fell by 80.7% to £13.3m, reflecting lower day ahead prices achieved for gas produced over the summer; and
· Gas Storage operating profit fell by 69.2% to £1.6m; this business continues to be affected by smaller seasonal differentials in gas prices.

Networks - operating profit of £ 458.4m, up 4.7%

· Electricity Transmission operating profit rose by 46.3% to £98.9m, reflecting the continuing major investment in the asset base, resulting in higher income;
· Electricity Distribution operating profit fell by 7.0% to £215.7m, reflecting the lower number of electricity units distributed, the adjustment for last year's over-recovery of £25m of revenue and additional costs incurred; and
· Gas Distribution - SSE's share of Scotia Gas Networks' operating profit rose by 4.1% to £143.8m, reflecting progress in delivering innovation and efficiencies as well as the timing of revenue collection.

Retail - operating profit of £37.3m, compared with an operating loss of £71.4m#

· Energy Supply recorded an operating loss of £16.9m, which was smaller than the loss in 2013 due to a number of factors including lower energy purchasing costs, but which were partly offset by the impact of milder weather;
· Energy-related Services operating profit fell by 30.2% to £11.3m, reflecting mixed performance within these businesses; and
· Enterprise operating profit rose by 54.3% to £42.9m, largely reflecting a £15.3m profit on a disposal in the period.

#Operating profit for same period in 2013 restated in line with establishment of the Enterprise division, and as set out in the Notification of Close Period on 29 September 2014 and at Note 4 of the Condensed Interim Statements.


more....

[zcaprd7] 11/11/2014 18:52

A strong finish today... Another crack at the resistance tomorrow?

[lord gnome] 11/11/2014 09:37

I think I prefer the Swiss to the German on this occasion Skinny.

[skinny] 11/11/2014 06:48

Credit Suisse Outperform 1,562.00 1,562.00 1,600.00 1,700.00 Reiterates

Deutsche Bank Hold 1,562.00 1,562.00 1,340.00 1,340.00 Reiterates

[lord gnome] 03/11/2014 15:19

Yes, a quick look at the target and then it retreats quickly. Third time lucky?

[zcaprd7] 03/11/2014 14:30

£16 is a bit of resistance...

[wad collector] 03/11/2014 09:03

Surely no-one will vote for them , will they????

[redartbmud] 31/10/2014 16:54

wad

Millipede/BallsUp willing.

[wad collector] 31/10/2014 16:39

Never mind £16 ; I won't part with mine for less than £18.

[lord gnome] 30/10/2014 18:16

Given the way that Wall Street is powering ahead this evening, I think we might just see £16 quicker than I thought. Bring it on!

[zcaprd7] 30/10/2014 15:52

Pushing for £16. Don't think the Scottish vote has unwound itself here either...

[wad collector] 30/10/2014 08:31

No, but the pressure on them ,or their successors , mounts. They keep ignoring it , and looking for winning some votes by cutting prices , but ultimately they will have to face it.

I see IC has SSE as a Sell last week , citing regulatory uncertainties and dividend sustainability. A reasonable point of view , if it was not discounted already....

[redartbmud] 29/10/2014 19:50

wad

Do you have any faith in the will, or the ability, of the current crop of politicians to apply common sense to the subject?

[wad collector] 29/10/2014 15:51

There has been some highlighting of supply issues on the Grid again this weekend ; this puts more pressure on the politicians to support the industry. Good for SSE share price I think.

[skinny] 06/10/2014 10:36

Credit Suisse Outperform 1,514.50 1,514.00 1,600.00 1,600.00 Reiterates