SP DISTRIBUTION PLC

• ◆

  4 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +8.5%

  £568,900,000 → £617,300,000

• Cash

  -40%

  £3,500,000 → £2,100,000

• Net assets

  +16.5%

  £736,000,000 → £857,700,000

• Employees

  +7.2%

  782 → 838

• Operating profit

  +48.2%

  £221,800,000 → £328,800,000

• Profit before tax

  +71.6%

  £142,900,000 → £245,200,000

• Wages

  +14.6%

  £48,100,000 → £55,100,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. SP DISTRIBUTION PLC 2013-10-31 → present
2. SP DISTRIBUTION LIMITED 2003-03-21 → 2013-10-31
3. SP DISTRIBUTION PLC 2002-10-31 → 2003-03-21
4. SP DISTRIBUTION LIMITED 2001-05-11 → 2002-10-31
5. SCOTTISHPOWER DISTRIBUTION LIMITED 1998-12-14 → 2001-05-11
6. RANDOTTE (NO. 462) LIMITED 1998-09-07 → 1998-12-14

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have prepared the financial statements on the going concern basis as they do not intend to liquidate the Company or to cease its operations, and as they have concluded that the Company's financial position means that this is realistic.”

Significant events

• “SPENH acquired 88% of the share capital of North West Electricity Networks (Jersey) Limited ("NWEN") in October 2024.”
• “Capital investment increased by £47.3 million to £286.4 million in 2024 primarily due to continued investment to facilitate UK net zero targets as the Company progresses through RIIO-ED2.”
• “Net assets of the Company increased by £121.7 million in the year to £857.7 million. This reflects the impact of the statutory profit for the year of £184.6 million offset by dividends of £62.9 million paid to the parent.”
• “During the year, the Company increased the estimated useful life of its onshore underground cable assets from 40 years to 60 years, in order to better align the accounting estimate with the wider industry and the physical.life span of the assets.”
• “In June 2024, the Company entered into an intra-group committed revolving credit facility arrangement with SPUK for £750.0 million, with an expiry date of April 2029 which has yet to be utilised.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

8

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

4

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.