Energy firm claims the sector faces very challenging conditions after growing profits to £1.55bn, but lost 370,000 customers over the last year
SSE: profits up 9.6%, but retail profits downChairman: We're part of the solutionBurberry warns on currency effects, againComing up: Bank of England minutes...8.59am BST
Back on SSE's results, and the Press Association has focused on the drop in retail profits at the energy supplier:
Energy giant SSE today said annual profits from its energy supply arm fell by nearly a third and are unlikely to recover for two years after it announced a price freeze.
Operating profits from the business dropped by 32.2% to £246 million though the wider group saw adjusted pre-tax profits rise 9.6% to £1.55 billion.
8.55am BST
It's the end of an era at Carpetright.
The UK flooring firm's (very) long-serving executive chairman, Lord Harris, is stepping down this summer, after more than half a century in carpet retailing.
"I will be 72 this year and shareholders will be aware that I have been planning a managed hand-over of my responsibilities for some time.
8.46am BST
Heads-up for eurozone crisis watchers - the FT's Peter Spiegel is about to discuss his brilliant series on how the euro was saved, on Radio 4. You'll be able to hear it later on iPlayer (could be tricky if you're not in the UK, though)..
Not fully awake yet? I've got solution: my grating American accent on @BBCRadio4 in 10mins talking about recent @FT series on #eurocrisis
8.43am BST
SSE's 9.6% jump in profits (despite that drop in retail earnings) haven't caused any alarm in the City -- where shares have dipped just 0.3%, or 6p, to £15.60.
And Burberry's record profits have also gone down well - shares are up 0.6%
8.36am BST
Burberry's new boss, Christopher Bailey, has begun his stint at the top of the fashion industry by reporting record profits for the last year, up 8% rise in line with expectations.
As we enter a new chapter, our teams are united and energised by the opportunities ahead - from unlocking Japan, to accelerating Beauty and further integrating the physical and digital to deliver distinctive experiences.
8.17am BST
SSE has hiked the dividend it pays to shareholders by 3.0% -- part of its policy to raise dividends at least as fast as inflation.
But it warned that future earnings face several risks, including:
SSE ups the dividend but warns that potential Labour price freeze "could place a greater risk" on future earnings for shareholders.
8.10am BST
SSE's chairman Lord Smith insists that his company is part of the solution, not the problem, in the energy sector - after growing profits by almost 10% in the last year:
"SSE is listening to and helping customers with the longest ever household energy price freeze in the Great Britain market;we have well-defined plans for net investment of around £5.5bn over the next four years in maintaining, upgrading and building the electricity assets customers depend on; and we are committed to giving investors a fair return through an annual dividend that at least keeps pace with inflation.
"The issues facing the energy sector are very challenging. Nevertheless, customers, investors, regulators, politicians and SSE all want the same thing: an energy market that works for customers, and is trusted and seen to do so. We believe SSE is not part of the problem but part of the solution to meeting the energy needs of customers in Great Britain and Ireland."
8.04am BST
Energy firm SSE has reignited the debate over the state of Britain's energy sector by posting a 9.6% surge in profits for the last financial year.
SSE, one of Britain's "Big Six" suppliers, made adjusted pre-tax profits of£1.55bn for the year to 31 March compared with £1.4bn a year earlier.
SSE group profits up 9.6% to £1.5bn as retail price hike last Nov helps. Interesting 48% gain from regulated (?) electricity transmission.
Energy supplier SSE reports 9pc rise in adjusted pre-tax profits of £1,55bn - a reflection of the underlying profits of the business
8.02am BST
Good morning, and welcome to our rolling coverage of the financial markets, the world economy, the eurozone and business.
Coming up today -- the minutes of the Bank of England's last monetary policy meeting will show whether any rate-setters are considering raising interest rates, in the face of a growing economy and hefty house price rises in London.
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#Greece #EP2014 RT @jodi2014: This is what #Samaras promised before the 2012 elections http://t.co/P3KKueweOw pic.twitter.com/KlLBmJ3jhZ
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