Sse Share Discussion Threads

[zcaprd7] 07/7/2014 14:20

Anyone know the ex dividend dates?

[zcaprd7] 02/7/2014 08:31

New high. Getting close to the 52 week high...

[skinny] 27/6/2014 09:58

Investec Buy 1,565.50 1,568.00 - 1,680.00 Reiterates

[weaverbeever] 20/6/2014 17:55

I worked for sse until recentlyGood companyAlso worked for cna for many years. Also good companyHoping to get some seasoned energy investers interested in a company i have been invested un for a few months now.FLOWWorth a look.Well worth checking out websiteA small utility company with huge potential50000 energy accounts and climbingDisruptive boiler technology

[zcaprd7] 20/6/2014 12:44

Getting there. Hoping for a retest of the 52 week high...

[bountyhunter] 28/5/2014 13:35

not thankless any more :-)
...good to see these picking up again

[wad collector] 28/5/2014 11:16

Thanks for the thankless task.

[bountyhunter] 24/5/2014 14:59

divi info added to header

[zcaprd7] 21/5/2014 22:12

Mixed bag. Progressive dividend policy catches my eyes though...

[skinny] 21/5/2014 07:02

The key financial results for the year to 31 March 2014 are in line with the expectations set out in the Notification of Close Period published on 26 March 2014 (comparisons with the previous year, unless otherwise stated):

· Adjusted earnings per share* rose by 4.1% to 123.4 pence;
· Adjusted profit before tax* rose by 9.6% to £1,551.1m;
· Reported profit before tax rose by 0.7% to £575.3m;
· Investment and capital expenditure increased by 6.5% to £1.583bn;
· Adjusted net debt and hybrid capital rose by £311.5m to £7.659bn; and
· Full-year dividend increased by 3.0% to 86.7 pence per share.

*Adjusted profit before tax describes profit before tax before exceptional items (£747.2m), re-measurements arising from IAS 39 (£212.0m) and after the removal of taxation on profits from jointly-controlled entities and associates (£11.6m). Following the adoption of IAS 19R, adjusted profit before tax is stated excluding interest costs on net pension scheme liabilities (£28.2m).

Finance - business-by-business operating profit
For the year to 31 March 2014 (comparisons with the previous year, unless otherwise stated); operating profit is before payment of interest and tax:

Networks - operating profit of £955.4m, up 9.3%
· Electricity Transmission operating profit rose by 47.6% to £136.7m, reflecting the major increase in investment in the asset base since 2010, resulting in higher income;
· Electricity Distribution operating profit decreased by 0.9% to £ 507.0m, reflecting the level and timing of revenue received and storm-related costs;
· SSE's share of Scotia Gas Networks' operating profit rose by 18.2% to £276.6m, reflecting efficiencies achieved and a positive start to the new Price Control that began in April 2013; and
· Other Networks operating profit fell by 2.2% to £35.1m.

Retail - operating profit of £292.0m, down 28.6%
· Energy Supply operating profit fell by 32.2% to £246.2m, reflecting lower use of energy by customers and higher costs including the cost of gas; and
· Energy-related Services operating profit fell by £0.1m to £45.8m.

Wholesale - operating profit of £634.6m, up 24.8%
· Energy Portfolio Management and Electricity Generation operating profit rose by 10.1% to £496.1m, largely reflecting increased output of energy from renewable sources;
· Gas Production operating profit rose from £39.6m to £130.2m, reflecting output from the increased asset base resulting from acquisitions, in particular the purchase of a 50% interest in the Sean gas production assets in April 2013; and
· Gas Storage operating profit fell by 54.9% to £8.3m; this business continues to be affected by the fact there are smaller seasonal differentials in gas prices.

Operations - providing the energy people need
In the year to 31 March 2014 (comparisons in brackets with the previous year, unless otherwise stated):

· Safety: SSE's Total Recordable Injury Rate was 0.12 per 100,000 hours worked (0.14);
· Networks: the number of Customer Minutes Lost in the Scottish Hydro Electric Power Distribution area was 77 (73); in the Southern Electric Power Distribution area it was 67 (65);
· Networks: SSE restored electricity supplies to customers following a record eight exceptional winter weather events affecting the Scottish Hydro Electric and Southern Electric Power Distribution areas;
· Retail: SSE's number of electricity and gas customer accounts in markets in Great Britain and Ireland fell from 9.47 million to 9.10 million;
· Retail: average consumption of electricity by SSE's household customers in Great Britain was estimated to be 3,991kWh (4,299kWh); average consumption of gas by SSE's household customers in Great Britain was estimated to be 465 therms (544 therms).
· Wholesale: total electricity output* from gas and oil fired power stations was 10.1TWh (8.7TWh); from coal-fired power stations output was 16.6TWh (20.6TWh); and
· Wholesale: total electricity output* from renewable sources (conventional and pumped storage hydro electric schemes, onshore and offshore wind farms and dedicated biomass plant) was 9.4TWh (7.6TWh), reflecting additional capacity in operation, including at Greater Gabbard, and wetter and windier weather conditions.

* Output from electricity generating plant in which SSE has an ownership interest (output based on SSE's contractual share).

Investment - maintaining, upgrading and building energy assets customers need
In the year to 31 March 2014, SSE's capital and investment expenditure totalled £1,582.5m, compared with £1,485.5m in the previous year:

· Networks: Investment in electricity networks totalled £657.5m. SSE's subsidiary Scottish Hydro Electric Transmission has made significant progress in its section of the Beauly-Denny replacement line, with almost all of the foundations laid, three quarters of the 539 towers erected and over half of the route wired.
· Retail: Investment in retail totalled £99.9m. SSE has continued to make significant investment in new systems to deliver enhanced services to customers and support the installation of smart meters in the years to 2020.
· Wholesale: Investment in electricity generation totalled £616.5m. Work is progressing well at SSE's 460MW CCGT development at Great Island in the South-East of Ireland, which is expected to be commissioned later this year.

Capital and investment in the Wholesale segment included expenditure totalling £51.5m in: Gas Production (£40.9m); and Gas Storage (£10.6m). Separately, SSE acquired a 50% stake in the Sean gas production assets for £127.6m (including working capital).

SSE's capital investment and expenditure for 2014/15 is currently forecast to total around £1.6bn and then average up to £1.3bn (net of asset/business disposals) in the years to and including 2017/18.

Undertaking a value programme to ensure SSE is well-positioned for the future
On 26 March 2014, SSE announced a value programme with two important features to help ensure it is well-positioned for the period to 2020 and beyond:

· disposing of assets and businesses which are not core to its future plans or result in a disproportionate financial burden or present opportunities to release capital to support future investment; and
· securing annual savings in overheads that will total, in the first instance, around £100m by the end of 2015/16.

The value programme is under way, and the financial outlook which it supports remains the same as set out in March.

Financial outlook
SSE uses adjusted earnings per share* to monitor financial performance over the medium term because it defines the amount of profit after tax that has been earned for each Ordinary share. It currently expects adjusted earnings per share* in 2014/15 to be around or slightly greater than that in 2013/14. In view of the wider energy sector conditions, however, SSE continues to recognise that its ability to deliver increases in adjusted earnings per share* is subject to greater risk in 2015/16 and 2016/17.

Shareholders have either invested directly in SSE or, as owners of the company, enabled it to borrow money from debt investors to finance investment in maintaining, upgrading and building energy assets that customers depend on. SSE aims to give them a return on their investment through the payment of dividends. As stated in March 2014, SSE's objective for 2014/15 and subsequent years is to deliver a full-year dividend increase of at least RPI inflation.

Working to fulfil SSE's core purpose
SSE has today (21 May) submitted and published (see sse.com) its response to Ofgem's consultation on the proposal to make a market investigation reference to the Competition and Markets Authority (CMA) in respect of the supply and acquisition of energy in Great Britain. In the event of a CMA referral, while the CMA is doing its work, SSE will continue to work with customers, politicians, regulators, investors and other stakeholders to help achieve greater political and regulatory stability for the GB energy market, for the benefit of customers and the investment in the country's energy system that they need.

It will do this while making a significant contribution to the economy in the UK and Ireland. An independent study by PwC released on 19 May and available on sse.com found that in the year to March 2013, SSE contributed £9.1bn to the UK GDP in 2012/13 and supported 112,000 jobs. These are significant economic impacts, and important to the UK economy as a whole. Also important to the UK economy is fairness in employment, and it is for this reason that SSE became, in September 2013, the first energy company and, at that time, the largest UK-listed company by market capitalisation, to become an accredited Living Wage employer. SSE's employees are committed to fulfilling the company's core purpose, which is to provide the energy people need in a reliable and sustainable way.

[sicker] 16/5/2014 08:40

My target too :-)
(discounting the 60p,? ex-div drop in July)

[zcaprd7] 16/5/2014 01:43

Nope. Holding for £17

[philo124] 13/5/2014 13:35

Good idea.

[macarre] 13/5/2014 13:05

I'd try a re-entry at 14.17. I'm currently short on SSE.

[philo124] 13/5/2014 02:26

Not at the moment.

[jonojubb] 12/5/2014 23:09

What's people's thoughts on a good entry point?@phil - sold out ? Any plans on coming back in?

[bamboo2] 07/5/2014 20:13

Invesco will be a transfer to WIM.

"Change in Investment Manager. Proxy Voting Rights X
specify): no longer owned by Invesco Limited. No Market
Transaction Completed. "

[philo124] 06/5/2014 18:26

Sold out completely today £25k.

[philo124] 11/4/2014 21:06

Hardly a "hit" on either of them.

[sicker] 11/4/2014 14:44

Another buying opportunity ? My 2 most expensive shares sse & gsk have certainly taken a hit lately, as it appears has most of the Market :-)

[redartbmud] 02/4/2014 08:26

I do hope that the point doesn't score the heart of my investment.

red

[veryniceperson] 01/4/2014 16:53

It's getting close to general election, just point scoring. Look forward to the rising dividends.

[zcaprd7] 01/4/2014 11:03

I'm hoping we are just retesting the support / resistance line

[redartbmud] 01/4/2014 08:12

Every time it goes up, a politician kicks it back down.