SSE anounce bumper profits

ihateyes

SSE to day announced Operating profits at its retail operations were up 27,5%........

This is shocking considering they lost 80,000 customers over the last year.


http://www.bbc.co.uk/news/business-22621147

Wywth

ihateyes wrote: »

SSE to day announced Operating profits at its retail operations were up 27,5%........

This is shocking considering they lost 80,000 customers over the last year.


http://www.bbc.co.uk/news/business-22621147

Why is it shocking? :huh:

People are following Martins advice to ditch and switch to get the best possible deal for them.

The company said average UK household gas consumption was up 21% over the year, while electricity consumption was up 5%....
Operating profits at its retail operations were up 27,5% to £410m ...
SSE now has 9.47 million customers, down 80,000 on a year ago.

I make that a profit of less than £50 a customer, or about 3.0 -3.5% based on an average customer's annual bill.

Compare to profit margins of other major companies, such as the supermarkets.;)

ihateyes

Wywth wrote: »

Why is it shocking? :huh:

People are following Martins advice to ditch and switch to get the best possible deal for them.



I make that a profit of less than £50 a customer, or about 3.0 -3.5% based on an average customer's annual bill.

Compare to profit margins of other major companies, such as the supermarkets.;)

i know and appreciate the whole slim margin they work tooo

but its a touchy subject in the UK, and then to claim in the same article that we plan to increase prices soon!

WestonDave

Losing 80,000 customers out of 9.47million is less than a 1% movement - its statistical noise not a sign of a definite move away from SSE! Probably by the time people have jumped on the ditch N-Power for not paying tax bandwagon, it will have swung back the other way.

Similarly all this focus on Utility company profits avoids focusing on the real issues that whilst our energy is actually amongst the cheapest in Europe, its still expensive and so improving efficiency and reducing waste is vital to saving money.