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SSE Half Yearly Report

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idpickering
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SSE Half Yearly Report

#180133

Postby idpickering » November 14th, 2018, 7:15 am

This report sets out the interim results for SSE plc for six months to 30 September 2018, which are ahead of the expectations set out in the Trading Statement and Notification of Close Period Statement issued on 12 and 25 September 2018 respectively.

Headline results (excluding SSE Energy Services)

Excluding SSE Energy Services, which is held for disposal:

· adjusted earnings per share is 19.6 pence (down 39.9%);

· adjusted profit before tax is £246.4m (down 40.9%);

· reported loss per share is 22.6 pence; and

· reported loss before tax is £265.3m.

SSE has also today announced the interim dividend per share for 2018/19 of is 29.3 pence, an increase of 3.2%.

SSE is today announcing that it will consolidate the development, operation and ownership of all of its renewable energy assets in the UK and Ireland under a single entity called SSE Renewables.


https://www.investegate.co.uk/sse-plc-- ... 00032616H/

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Re: SSE Half Yearly Report

#180141

Postby Dod101 » November 14th, 2018, 7:35 am

Thanks Ian. It is a relief to see that the dividend is being increased again but the numbers are hardly inspiring, slightly less bad than they said in their trading statement, and of course the retail deal my be on the rocks. I suppose some of the shortfall is of course because they have taken out the retail numbers. Having sold most of my shares, I will just keep what I have left although the political issues still remain and so do their stretched finances. I wonder what the market will make of the results? Relief at the dividend I suppose.

Dod

idpickering
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Re: SSE Half Yearly Report

#180151

Postby idpickering » November 14th, 2018, 8:00 am

Dod101 wrote:Thanks Ian. It is a relief to see that the dividend is being increased again but the numbers are hardly inspiring, slightly less bad than they said in their trading statement, and of course the retail deal my be on the rocks. I suppose some of the shortfall is of course because they have taken out the retail numbers. Having sold most of my shares, I will just keep what I have left although the political issues still remain and so do their stretched finances. I wonder what the market will make of the results? Relief at the dividend I suppose.

Dod


You're welcome Dod. I don't mind admitting I'm relieved at the results and dividend. I topped up my holdings not long ago, but am holding off any more going forward until the political issues are confirmed.

Ian.

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Re: SSE Half Yearly Report

#180156

Postby monabri » November 14th, 2018, 8:31 am

Just looking at the numbers above, one has to question maintaining a dividend nevermind increasing it ?

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Re: SSE Half Yearly Report

#180158

Postby Walrus » November 14th, 2018, 8:41 am

Dod101 wrote:Thanks Ian. It is a relief to see that the dividend is being increased again but the numbers are hardly inspiring, slightly less bad than they said in their trading statement, and of course the retail deal my be on the rocks. I suppose some of the shortfall is of course because they have taken out the retail numbers. Having sold most of my shares, I will just keep what I have left although the political issues still remain and so do their stretched finances. I wonder what the market will make of the results? Relief at the dividend I suppose.

Dod



Hmm, I'm doing a lot of Hmming these days.
I don't ike those EPM numbers. I am hoping that those are "Generation hedges" and we should see this coming back on the asset side through future generation revenues ather than a speculative power trading book that has lost a boatload.

Another sorry share for my HYP portfolio. Dividend increased though so...... Hmmm indeed. Won't be adding any more

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Re: SSE Half Yearly Report

#180159

Postby IanTHughes » November 14th, 2018, 8:42 am

Investor Timetable

Interim ex-dividend date 17 January 2019

Record Date 18 January 2019
Final date for receipt of Scrip Elections 14 February 2019

Interim dividend payment date 15 March 2019


Ian

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Re: SSE Half Yearly Report

#180162

Postby Walrus » November 14th, 2018, 8:50 am

IanTHughes wrote:
Investor Timetable

Interim ex-dividend date 17 January 2019

Record Date 18 January 2019
Final date for receipt of Scrip Elections 14 February 2019

Interim dividend payment date 15 March 2019


Ian


I've finally bitten. Carillon paid increasing dividends for it's entire existence whilst loading up on debt through the period. Continued poor performance will ultimately lead to failure and a dividend cut. Pointing out dividend is fine is too short term an outlook for me, I am also interested in the longer term outlook and performance.

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Re: SSE Half Yearly Report

#180170

Postby Dod101 » November 14th, 2018, 9:07 am

Presumably you mean you have sold. Apart from a small rump I sold some time ago, although I do not think that SSE is a Carillion. There may well be a dividend cut though and as I said earlier the political situation has not gone away.

Dod

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Re: SSE Half Yearly Report

#180179

Postby Walrus » November 14th, 2018, 10:05 am

Dod101 wrote:Presumably you mean you have sold. Apart from a small rump I sold some time ago, although I do not think that SSE is a Carillion. There may well be a dividend cut though and as I said earlier the political situation has not gone away.

Dod


I have not sold, I will continue to reluctantly hold them but I would not be a buyer at these levels. My point was more seeming a company underperforming has managed to raise it's dividend. Yesterday Vod held it's dividend despite a backdrop of bad news. As income investors this is obviously good news but none of it is filling me with a warm fuzzy feeling looking at the future for these shares I hold. I'm also slightly concerned with that EPM sector performance and what has gone on there.

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Re: SSE Half Yearly Report

#180207

Postby monabri » November 14th, 2018, 11:49 am

"Headline results (excluding SSE Energy Services)"

?? What are the results if one were to include this part of the business? - the bit they are trying to shake off into a new business with loss making nPower?

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Re: SSE Half Yearly Report

#180211

Postby Arborbridge » November 14th, 2018, 11:55 am

Walrus wrote:
IanTHughes wrote:
Investor Timetable

Interim ex-dividend date 17 January 2019

Record Date 18 January 2019
Final date for receipt of Scrip Elections 14 February 2019

Interim dividend payment date 15 March 2019


Ian


I've finally bitten. Carillon paid increasing dividends for it's entire existence whilst loading up on debt through the period. Continued poor performance will ultimately lead to failure and a dividend cut. Pointing out dividend is fine is too short term an outlook for me, I am also interested in the longer term outlook and performance.


I've finally bitten.


What does that mean? - you've finally decided to buy some more?

Arb.

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Re: SSE Half Yearly Report

#180218

Postby Bouleversee » November 14th, 2018, 12:17 pm

I think the reason the s.p. is shooting up today is that it has just announced that it is to create a new company to hold its renewable energy assets.

https://uk.reuters.com/article/uk-sse-r ... sinessNews

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Re: SSE Half Yearly Report

#180222

Postby Walrus » November 14th, 2018, 12:36 pm

Bouleversee wrote:I think the reason the s.p. is shooting up today is that it has just announced that it is to create a new company to hold its renewable energy assets.

https://uk.reuters.com/article/uk-sse-r ... sinessNews


Breaking it's self up perhaps, the corbyn hedge

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Re: SSE Half Yearly Report

#180225

Postby Dod101 » November 14th, 2018, 12:49 pm

Bouleversee wrote:I think the reason the s.p. is shooting up today is that it has just announced that it is to create a new company to hold its renewable energy assets.


But there is no suggestion that they are going to spin it off so still the same assets. I think it is more relief that the dividend has been increased after the very gloomy trading statement in September.

Dod

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Re: SSE Half Yearly Report

#180229

Postby Bouleversee » November 14th, 2018, 12:58 pm

Who knows? This is from ADVFN's morning bulletin:

"Energy firm SSE advanced despite posting a 41% drop in interim profit, as it announced the creation of a renewable energy business."

If they are spinning off the utility aspect with its capping and Corbyn constraints into the tie-up with Innogy, will they need to spin this one off as well?

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Re: SSE Half Yearly Report

#180252

Postby monabri » November 14th, 2018, 2:08 pm

Headline results (excluding SSE Energy Services)

Excluding SSE Energy Services, which is held for disposal:

· adjusted earnings per share is 19.6 pence (down 39.9%);
etc.etc.


Why are they excluding Energy Services - wouldn't the inclusion of this arm of operations drag the reported profits down even further? They can't just ignore it as the deal might not go through!

Or...are they planning on using this as a baseline to measure the next set of results against by assuming the deal is done? Hmm! :shock:

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Re: SSE Half Yearly Report

#180255

Postby idpickering » November 14th, 2018, 2:22 pm

Why I’m still avoiding FTSE 100 energy giant SSE and its 8%+ dividend yield

With its eye-popping dividend yield, it’s only natural that energy supplier SSE (LON: SSE) should attract the attention of those looking to generate income from their investments, particularly as savings rates continue to be so derisory. For me, however, the stock is very much one to avoid.


https://www.fool.co.uk/investing/2018/1 ... end-yield/

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Re: SSE Half Yearly Report

#180263

Postby Dod101 » November 14th, 2018, 2:47 pm

I agree with TMF for once and in fact have just sold my remaining holding in SSE, into a strong market and got £12. Difficult to throw away the yield I know but I have no faith in the company. Now what do I buy?

Dod

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Re: SSE Half Yearly Report

#180279

Postby Bouleversee » November 14th, 2018, 3:43 pm

Dod101 wrote:I agree with TMF for once and in fact have just sold my remaining holding in SSE, into a strong market and got £12. Difficult to throw away the yield I know but I have no faith in the company. Now what do I buy?

Dod

Three cruises

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Re: SSE Half Yearly Report

#180309

Postby Bouleversee » November 14th, 2018, 5:05 pm

Reuters says " RWE sees no negative fallout should SSE-Innogy talks collapse - CFO"

https://www.reuters.com/article/uk-rwe- ... SKCN1NJ1W6

Perhaps that helped to send the price up. I hadn't expected such a big increase.


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