Investor Archive / Investor News
2004/05 Nine Month Results including Third Quarter to 31 December 2004
10 February 2005
Highlights
- Earnings per share* of 28.6 pence for the nine months, up 11%
- Earnings per share* of 11.1 pence for the quarter, up 9%
- Dividend per share of 4.95 pence for the quarter, up 4.2%
- UK customer numbers up 1 million in 12 months to over 5 million
- Over £1 billion invested, including £682 million (65%) for growth
| Quarter 3 | Nine Months |
|---|
| 2004/05 | 2003/04 | £ Million | 2004/05 | 2003/04 |
|---|---|---|---|---|
| 1,857 | 1,524 | Turnover | 4,911 | 4,049 |
| 298 | 279 | Operating profit | 769 | 731 |
| 327 | 311 | Operating profit excluding goodwill | 858 | 830 |
| 252 | 226 | Profit before tax | 634 | 553 |
| 281 | 258 | Profit before tax excluding goodwill | 723 | 651 |
| 9.5 | 8.5 | Earnings per share (pence) | 23.7 | 20.4 |
| 11.1 | 10.2 | Earnings per share excluding goodwill (pence) | 28.6 | 25.8 |
| 4.95 | 4.75 | Dividends per share (pence) | 14.85 | 14.25 |
Note: Items marked * are excluding goodwill amortisation. ScottishPower management assesses the performance of its businesses by adjusting UK GAAP statutory results to exclude items it considers to be non-operational in nature. In the periods reviewed, goodwill amortisation has been excluded. We have, therefore, focused our presentation of business performance on the results excluding goodwill amortisation. Unless otherwise stated "nine months" relates to the nine months to 31 December 2004, and "quarter" relates to the three months to 31 December 2004.
Ian Russell, ScottishPower Chief Executive, said:
"The group has delivered a good set of results for the nine months with earnings per share* up 11%. The growth in profit is driven by the return on our investment in generation assets which we made to support our strong growth in customer numbers.
During the third quarter, we improved our US thermal plant availability and US retail loads increased. In the UK, we grew our customer base to over five million, a number which has continued to grow since the quarter end.
The group has performed well and our outlook for the year remains unchanged."
For further information:
David Ross,
Investor Relations Manager +44 (0) 141 636 4527
Colin McSeveny,
Group Media Relations Manager +44 (0) 141 636 4515
