SSE plc's financial report for the year to 31 March 2012
|
|
Mar 2012 |
Mar 2011 |
Change |
Mar 2010 |
|
Total Recordable Injury Rate |
0.11 |
0.12 |
- 8% |
0.14 |
|
Working days lost through injuries |
53 |
171 |
- 118 days |
73 |
|
|
|
|
|
|
|
Full-Year Dividend |
80.1p |
75.0p |
+ 6.8% |
70.0p |
|
Adjusted Profit Before Tax |
£1,335.7m |
£1,310.1m |
+ 2.0% |
£1,290.1m |
|
Adjusted Profit After Tax |
£1,122.3m |
£1,041.9m |
+ 7.7% |
£1,016.0m |
|
Adjusted Earnings Per Share |
112.7p |
112.3p |
+ 0.4% |
110.2p |
|
Investment and Capital Expenditure |
£1,706.9m |
£1,443.7m |
+ 18.2% |
£1,315.2m |
|
Customer Minutes Lost (SHEPD) |
73 |
78 |
- 5 mins |
74 |
|
Customer Minutes Lost (SEPD) |
60 |
64 |
- 4 mins |
65 |
|
Energy Supply Customers (GB and Ire) |
9.55m |
9.65m |
- 1% |
9.35m |
|
GB customer complaints to third parties |
896 |
1,161 |
- 23% |
1,231 |
|
Power Station Availability (Gas) |
94% |
88% |
+ 7% |
94% |
|
Power Station Availability (Coal) |
89% |
84% |
+ 6% |
92% |
|
Capacity for Renewable Energy |
3,020MW |
2,450MW |
+ 570MW |
2,370MW |
Lord Smith of Kelvin, Chairman of SSE, said:
"There are three issues over which SSE has no control but which in one way or another touched every part of its business in 2011/12 - upheaval in global energy markets, widespread economic uncertainty and the weather. Higher wholesale gas prices, falling demand for energy and a succession of winter storms presented major challenges for the wholesale, retail and networks parts of SSE.
"The fact that, despite all of this, SSE has again delivered increases in the full-year dividend and in adjusted profit before tax* demonstrates the resilience inherent in its balanced model of market-based and economically-regulated businesses, and the robustness of its strategy of focusing on operations and investment in each of those businesses. It also demonstrates the commitment and professionalism of the people who work for SSE throughout the UK and Ireland.
"For some people, 'profit' and 'dividend' are contentious words when it comes to energy, but profit and dividend allow SSE to employ people, pay tax, make investments that keep the lights on and provide an income return that shareholders like pension funds need.
"At the same time, SSE recognises that it must continually earn the right to make a profit and pay dividends, so 2012/13 and beyond will be about continuing the work to earn the trust of customers in retail and business markets, meeting the needs of energy network customers and investing in assets to support secure and lower carbon supplies of energy in the future. If this is achieved, there can be every confidence that SSE will extend further its record of annual above-inflation dividend growth, with an increase of at least 2% more than inflation for 2012/13."
