Scottish & Southern Electric posts record profits

Most have spent the year cursing the British weather, but not those working at Scottish & Southern Electric.

Although the British public likes complaining about the weather, this year more than most they have been well within their rights to do so. Already midway into May the sun has only made the briefest of appearances, and ice cream manufacturers will have been having many a sleepless night.

Scottish & Southern Electric (SSE) on the other hand will be wondering what they have done to get so lucky. The awful weather over the last year has seen the energy provider react to the 21% increase in consumption by the UK, resulting in profits for its household and business supply section increasing by 27.5%. This increase in consumption, along with some cost-efficiency measures, has helped the company boost profits by 5.6%. Pre-tax profits for 2013 have come in at £1.41 billion – an improvement year-on-year following 2012’s £1.34 billion.

Of course it has not all been smooth sailing for the company, who have recently been fined £10.5 million for mis-selling to UK customers. Its recent figures are bound, therefore, to see a number of outraged politicians comment on the profit margins being run by the firm, and will no doubt increase the general distrust of energy-providing companies.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.