SSEZY SSE PLC (PK)

By Christian Moess Laursen

SSE said it expects to report lower half-year adjusted earnings per share, but that it backs it full-year guidance as operations are expected to pick up in the latter half.

The FTSE 100 energy company said Wednesday that it is expecting adjusted earnings per share of at least 30 pence in the first half of the year, which compares to the 41.8 pence a share in achieved in the same half a year before.

The guidance accounts for renewable performances below expectations, with output around 19% behind the half-year plan, mainly due to adverse weather, it said.

However, the FTSE 100 company reiterated its full-year guidance of 150 pence, reflecting that the majority of earnings are usually delivered in the second half-year.

In fiscal 2023, which ended March 31, the company booked 166.0 pence in adjusted earnings per share.

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

(END) Dow Jones Newswires

October 04, 2023 05:58 ET (09:58 GMT)

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