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Share Price: 1,799.50
Bid: 1,799.00
Ask: 1,800.00
Change: 0.50 (0.03%)
Spread: 1.00 (0.056%)
Open: 1,770.00
High: 1,810.00
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Prev. Close: 1,799.00
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SSE cuts earnings forecast; considers options on energy unit

Fri, 08th Feb 2019 07:58

(Sharecast News) - SSE said on Friday cut its full year adjusted earnings forecast as a result of the Capacity Market payments standstill, adding that it was mulling options for its energy services unit after the collapse of the sale to Innogy's Npower.In a trading statement, SSE said adjusted earnings fell would fall by 6p a shares, taking the forecast to 64p - 69p.The EU General Court ruled last November that Britain must halt payments under the scheme pending an investigation by European Union regulators. SSE said it was due £60m."The UK government continues to believe that the capacity market is the right mechanism for delivering security of supply at the lowest cost to consumers and stated in February 2019 that it intends to ensure that suspended payments are made to holders of capacity market agreements for 2018/19. This should make this income recognition issue a matter of timing only," SSE said.SSE said it believed its energy services operation would be "best positioned...in a future outside of the SSE group".Future options included a standalone demerger and listing, a sale or an "alternative transaction"."If none of the other options is viable SSE may retain Energy Services as a separate, ring-fenced business within the SSE group that would be expected to be cash flow positive," SSE said.The company said reaffirmed its commitment to recommend a full-year dividend for 2018/19 of 97.5p a share and to deliver the five-year dividend plan set out in May 2018.
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Today 11:15

TOP NEWS: SSE cuts annual dividend as planned in bid for growth cash

(Alliance News) - SSE PLC on Wednesday reported a big swing to profit in its recent financial year, but it stuck to its plan to cut its annual dividend by more than a third, saying this was in line with its "growth aligned dividend plan".

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Today 07:21

SSE reports 'strong' full-year earnings performance

(Sharecast News) - SSE reported a "strong performance" in its preliminary results for the year on Wednesday, with earnings per share coming in at the top end of guidance despite profits slipping.

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15 May 2024 16:03

UK earnings, trading statements calendar - next 7 days

Thursday 16 May 
Auction Technology Group PLCHalf Year Results
Bank of Cyprus Holdings PLCQ1 Results
BT Group PLCFull Year Results
Convatec Group PLCTrading Statement
easyJet PLCHalf Year Results
Future PLCHalf Year Results
Grainger PLCHalf Year Results
Helios Towers PLCQ1 Results
Nexus Infrastructure PLCHalf Year Results
Premier Foods PLCFull Year Results
Restore PLCTrading Statement
Sage Group PLCHalf Year Results
Tritax EuroBox PLCHalf Year Results
Tullow Oil PLCTrading Statement
Tyman PLCTrading Statement
United Utilities Group PLCFull Year Results
Vanquis Banking Group PLCTrading Statement
Vistry Group PLCTrading Statement
Friday 17 May 
Land Securities Group PLCFull Year Results
XLMedia PLCFull Year Results
Monday 20 May 
Kainos Group PLCFull Year Results
Likewise Group PLCFull Year Results
Nexxen International LtdQ1 Results
Ryanair Holdings PLCFull Year Results
Union Jack Oil PLCFull Year Results
Tuesday 21 May 
Assura PLCFull Year Results
Atalaya Mining PLCQ1 Results
Avon Protection PLCHalf Year Results
Caledonia Investments PLCFull Year Results
Calnex Solutions PLCFull Year Results
Cranswick PLCFull Year Results
Diaceutics PLCFull Year Results
FD Technologies PLCFull Year Results
Greencore Group PLCHalf Year Results
Ixico PLCHalf Year Results
Kingfisher PLCTrading Statement
Pennon Group PLCFull Year Results
Smiths Group PLCTrading Statement
SSP Group PLCHalf Year Results
Topps Tiles PLCHalf Year Results
Wednesday 22 May 
4imprint Group PLCTrading Statement
British Land Co PLCFull Year Results
Close Brothers Group PLCTrading Statement
Hardide PLCHalf Year Results
HICL Infrastructure PLCFull Year Results
Marks & Spencer Group PLCFull Year Results
Regional REIT LtdTrading Statement
RS Group PLCFull Year Results
Severn Trent PLCFull Year Results
SSE PLCFull Year Results
STS Global Income & Growth Trust PLCFull Year Results
  
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A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
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9 May 2024 10:26

Balfour Beatty says trades in line amid "progress" on pacts

(Alliance News) - Balfour Beatty PLC on Thursday said it has traded in line with expectations so far in 2024, as it makes progress on major deals.

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3 May 2024 09:14

LONDON BROKER RATINGS: Jefferies cuts AJ Bell; Deutsche likes ConvaTec

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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18 Apr 2024 08:59

LONDON MARKET OPEN: Europe up as overlooks New York tech sell-off

(Alliance News) - Stock prices in London opened higher on Thursday, with the FTSE 100 supported by some promising corporate updates.

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17 Apr 2024 09:33

LONDON BROKER RATINGS: BofA cuts Ashmore; JPMorgan lifts Fresnillo

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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12 Apr 2024 09:55

LONDON BROKER RATINGS: JPMorgan raises Taylor Wimpey, Persimmon

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

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10 Apr 2024 11:00

US electric utilities brace for surge in power demand from data centers

April 10 (Reuters) - U.S. electric utilities predict a tidal wave of new demand from data centers powering technology like generative AI, with some power companies projecting electricity sales growth several times higher than estimates just months earlier.

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28 Mar 2024 16:08

London close: Stocks finish firmer ahead of Easter break

(Sharecast News) - London's equity markets closed higher on Thursday ahead of the Easter break, despite lingering concerns over the UK's recessionary status in the latter part of last year.

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27 Mar 2024 09:39

SSE narrows full-year EPS guidance

(Sharecast News) - SSE said on Wednesday that it was narrowing its guidance for full-year 2023/24 adjusted earnings per share, partly to reflect improved renewables output.

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19 Mar 2024 09:13

Diageo names former UK Civil Service head John Manzoni as new chair

(Correcting that Manzoni is chair of SSE PLC.)

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12 Mar 2024 12:03

LONDON MARKET MIDDAY: FTSE 100 outperforms ahead of US data

(Alliance News) - The FTSE 100 rallied heading into Tuesday afternoon, with gains for the blue-chip index broad-based, in confident trade ahead of a US inflation reading.

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7 Mar 2024 08:54

LONDON BROKER RATINGS: ITV, LondonMetric, Man, Domino's get upgrades

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

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4 Mar 2024 08:59

LONDON BROKER RATINGS: Jefferies says buy BP; UBS says buy Compass

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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