Britain's SSE sees lower first-half renewable output
Reuters
Published Sep 27, 2022 07:34
Updated Sep 27, 2022 08:09
(Reuters) -British power company SSE (LON:SSE) Plc said on Tuesday that unfavourable weather is likely to impact its first-half renewable output, but it kept its full-year earnings forecast unchanged.
The company said that renewable output for the year to Sept. 22 was 13% lower than planned, while its thermal power plants and gas storage sites performed well.
“Our balanced business mix has ensured a strong performance to date, however in such highly volatile market conditions, financial performance for the full year will be significantly influenced by plant availability, weather and commodity price movements," Finance Director Gregor Alexander said.
The company expects to report half-year adjusted earnings of at least 40 pence per share and still sees full-year adjusted earnings per share of at least 120 pence, in line with guidance given in its first-quarter results in July.
SSE is due to report half-year results for the six months to Sept. 30 on Nov. 16.
($1 = 0.9234 pounds)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.