![]() ![]() SSE lost 4.3% after the power utility confirmed that it plans to sell electricity network interests to fund investment in its renewables arm. Pretax profit for the year ended 30 September, dipped to £347 million from £373m. ![]() However, organic recurring revenue grew 5% to £1.64bn, which Sage said was underpinned by Sage Business Cloud growth of 19%. The index closed down 35.77 points, or 0.5%, at 7,291.20.Īccounting software provider Sage Group was the standout performer, up 9.7%, after saying it sees organic recurring sales growth accelerating in the year ahead, while margins should improve.įull-year revenue fell 3% to £1.85 billion. Higher than expected UK inflation bolstered the case for an interest rate hike from the Bank of England next month, forcing up the pound and causing many of the FTSE100 constituents to fall as they depend on earnings from overseas.
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