SSE Sees GBP120 Million-GBP130 Million Hit to 1st Half 2021 Operating Profit Due to Coronavirus

By Matteo Castia

SSE PLC said Wednesday that it expects a 120 million pounds to 130 million pounds ($154.3 million-$167.2 million) hit to operating profit during the first half of fiscal 2021 due to the coronavirus.

The FTSE 100 energy company said it continues to expect a GBP150 million to GBP250 million hit to operating profit for fiscal 2021 as a whole, with the greater headwind likely to be experienced in the first six months ended Sept. 30.

SSE said that it continues to trade in line with management views and that it is progressing with its GBP7.5 billion investment plan, reaching financial close for both the Seagreen offshore wind farm and the Viking onshore wind farm in Scotland.

It continues to expect to recommend a full-year dividend of 80.0 pence plus RPI inflation, including an interim dividend of 24.4 pence for the first half, it said.

SSE also said it expects to report adjusted earnings per share in the range 10.0 pence to 12.5 pence for the first half.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

September 30, 2020 02:37 ET (06:37 GMT)

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