Energy market 'challenging' despite SSE profit rise
SSE's focus is always on full-year results, because the potential for volatility is always much greater in a half-year period, but it is obviously encouraging that adjusted profit before tax in the first six months has been restored to a level around that achieved in 2010. This does not hide the fact, however, that energy market conditions remain challenging.
– Lord Smith of Kelvin, Chairman of SSEThe prices achieved for generating electricity have been weak, and higher gas and non-energy costs unfortunately had to be reflected in the increase in household energy prices which SSE implemented last month. The energy supply business accounted for 8.1% of SSE's adjusted operating profit in the period and its profit margin was 1.5%.
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