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SSEZY SSE PLC (PK)

21.17
-0.21 (-0.98%)
11 Dec 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
SSE PLC (PK) USOTC:SSEZY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.21 -0.98% 21.17 20.69 21.43 21.29 20.97 21.08 155,183 22:00:01

SSE Backs View After Swing to Pretax Profit

15/11/2023 7:51am

Dow Jones News


SSE (PK) (USOTC:SSEZY)
Historical Stock Chart


From Dec 2022 to Dec 2024

Click Here for more SSE (PK) Charts.

By Christian Moess Laursen

 

SSE backed its full-year outlook after swinging to a pretax profit in the first half of fiscal 2024, boosted by strong results in renewables, thermal and transmission divisions.

The U.K. energy infrastructure provider said Wednesday that its pretax profit swung to 573.3 million pounds ($716.6 million) in the half year to Sept. 30 from a loss of GBP511.0 million in the same period a year prior.

Steep operating profit increases in the renewables and the thermal segments drove the positive swing, while the larger transmission unit's operating profit edged higher, all of which also driving a swing to group operating profit, now GBP602.3 million from a loss of GBP635.1 million.

The gains offset operating profit decreases in distribution and gas storage.

However, revenue fell to GBP4.79 billion from GBP5.63 billion.

The group also declared an interim dividend of 20 pence, up from 29 pence a year prior.

Adjusted earnings per share was 37.0 pence, down from 41.8 pence.

On the back of the result, the FTSE 100-listed utility reaffirmed its full-year adjusted earnings per share target of more than 150 pence.

 

Write to Christian Moess Laursen at christian.moess@wsj.com

 

(END) Dow Jones Newswires

November 15, 2023 02:36 ET (07:36 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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