Severn Trent SVT Expects net Customer Outcome Delivery Incentive Rewards ODI will be ahead of previous guidance for 2016 -17 and will meet or exceed last years level. This must be a good thing because it follows a strong operational performance in the three months to 31st December. All fine and good but what does it mean. Presumably another highly paid executive will have to waste his time issuing an explanatory RNS so that the rest of the world can understand todays.
Ocado Group OCDO enjoyed robust trading in its core business during the year to 27th October and was voted best online supermarket for the second consecutive year. A double digit rise in revenue with growth of 14.7% compared favourably to the limited growth shown by the grocery market generally. Profit before tax rose by 21.8% but profit after tax was up by only a smidgeon at 1.7%. Net debt grew by 30% during the year and external net debt rose eight fold to £56m.
SSE plc SSE is on target to meets its first financial objective of an increase the full year dividend at least in line with RPI. It experienced volatile market conditions in the third quarter to 31st December and in the first nine months of the year renewable energy output fell 20% below a normal year because of still and dry weather conditions.
Earthport EPO expects revenue to have increased by 35% for the six months to 31st December, following a rise of 80% in transaction numbers and 96% in payment volumes.