SSE (SSE)

Sector:

Electricity Generation and Distribution

Index:

FTSE 100

1,830.50p
   
  • Change Today:
      24.00p
  • 52 Week High: 1,920.00
  • 52 Week Low: 1,525.00
  • Currency: UK Pounds
  • Shares Issued: 1,067.69m
  • Volume: 1,661,595
  • Market Cap: 19,544m
  • RiskGrade: 133

SSE pledges 25bn infrastructure investment as FY profits rise

By Michele Maatouk

Date: Wednesday 25 May 2022

LONDON (ShareCast) - (Sharecast News) - SSE posted a jump in full-year profit on Wednesday as it announced plans to invest £25bn in the UK and Ireland electricity infrastructure.

In the year to the end of March, adjusted pre-tax profit rose 23% to £1.16bn, with adjusted earnings per share up 22% to 95.4p.

SSE said it plans to recommend a final dividend of 60.2p a share, taking the full-year dividend to 85.7p, up from 81p the year before.

The company guided to adjusted earnings per share for 2022/23 of "at least" 120p, and updated its guidance for adjusted earnings per share compound annual growth rate of between 7-10% over the five year period to 2025/26. It pointed to higher RPI forecasts, and higher and "more volatile" energy commodity prices.

SSE - whose shares fell sharply on Tuesday following a report that Chancellor Rishi Sunak had ordered a plan for a windfall tax on electricity generators - said "net investment into vital UK and Ireland infrastructure could exceed £25bn this decade, creating thousands of jobs and directly addressing the energy crisis in the longer term".

Chief executive Alistair Phillips-Davies said: "This was a year in which our resilient business mix and balanced portfolio of assets helped us navigate volatile markets and meet our financial objectives whilst making record investments in the critical UK infrastructure needed to tackle climate change and deliver more secure, independent energy supplies.

"We are delivering major projects, building pipelines, and have made inroads in Southern Europe and Japan as we export our renewables capabilities internationally to fulfil SSE's considerable potential. Strategically, operationally and financially, SSE is well-placed to continue to create value for all of our stakeholders and wider society as we create the infrastructure needed to deliver net zero, secure energy supplies and ultimately drive consumer prices down."

At 0915 BST, the shares were up 4.7% at 1,849.02p, having tumbled a day earlier.



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Scottish & Southern Market Data

Currency UK Pounds
Share Price 1,830.50p
Change Today 24.00p
% Change 1.33 %
52 Week High 1,920.00
52 Week Low 1,525.00
Volume 1,661,595
Shares Issued 1,067.69m
Market Cap 19,544m
RiskGrade 133

Scottish & Southern Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
20.75% below the market average20.75% below the market average20.75% below the market average20.75% below the market average20.75% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
84.70% above the market average84.70% above the market average84.70% above the market average84.70% above the market average84.70% above the market average
50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average
Income
45.54% above the market average45.54% above the market average45.54% above the market average45.54% above the market average45.54% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
99.61% above the market average99.61% above the market average99.61% above the market average99.61% above the market average99.61% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 7
Buy 2
Neutral 8
Sell 0
Strong Sell 0
Total 17
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Scottish & Southern Dividends

  Latest Previous
  Final Interim
Ex-Div 28-Jul-22 13-Jan-22
Paid 22-Sep-22 10-Mar-22
Amount 60.20p 25.50p

Trades for 16-Aug-2022

Time Volume / Share Price
17:15 1,543 @ 1,825.65p
16:45 3,503 @ 1,830.00p
16:45 3,503 @ 1,830.00p
16:45 3,517 @ 1,830.00p
16:45 3,517 @ 1,830.00p

Scottish & Southern Key Personnel

CEO Alistair Phillips-Davies
Finance Director Gregor Alexander

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