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Shares fall as SSE confirms green investment boost

By Adrian Holliday

08:39, 17 November 2021

Photograph of SSE wind turbines – Photo: SSE
Photograph of SSE wind turbines – Photo: SSE

Energy producer SSE has announced a 30% surge in pre-tax profits along with a new Net Zero Acceleration Programme (NZAP). Pre-tax profits came in at £174.2m ($234.2m) compared to almost £133.9m for the same period last year.

Adjusted earnings per share rise by 44%

SSE’s new renewable investment NZAP will see an extra £1bn of capital expenditures deployed each year. SSE was also keen to highlight its £12.5bn strategic capital investment plan that will be rolled out over the next five years along with 2031 targets that are aligned with net-zero and 1.5-degrees targets.

The energy multinational says profits were helped by higher volumes and revenue allowances from its regulated network. Renewable power output was cut 25% lower due to unfavourable weather conditions.

Adjusted earnings per shares climbed by 44% to 10.5p, which was just above SSE’s predicted range of between 7.5p and 10p. The statement said that this reflected “improved performance across a number of businesses in the second half of September”.

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16,044.50 Price
+0.300% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 1.8


0.61 Price
-0.690% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

Oil - Crude

78.92 Price
+1.370% 1D Chg, %
Long position overnight fee -0.0163%
Short position overnight fee -0.0056%
Overnight fee time 22:00 (UTC)
Spread 0.040


2,041.54 Price
-0.160% 1D Chg, %
Long position overnight fee -0.0196%
Short position overnight fee 0.0114%
Overnight fee time 22:00 (UTC)
Spread 0.50

Shares fall in early trading

SSE’s adjusted net debt and hybrid capital stand at £9.6bn as a result of increased investment and capital expenditure. The group said that it remains committed to its five-year dividend plan, which will run until March 2023, "and expects to recommend a full-year dividend of 81 pence plus RPI inflation in line with that plan."

SSE’s stock price has risen by 15% over the last year but its shares fell more than 6.4% to £15.43 in early trading in London. By 08:30 GMT (UTC+0), the share price’s downward curve was flattening with shares selling at around £15.85.

Read more: SSE brushes off activist investor pressures

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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