SSE Warns 1st Half, FY18 Earnings to Be Hit by Lower Networks Profit
September 27 2017 - 3:08AM
Dow Jones News
By Ian Walker
Utilities firm SSE PLC (SSE.LN) said Wednesday it expects
first-half and full-year earnings for fiscal 2018 to be impacted by
a reduction in networks, mainly due to the phasing of capital
expenditure on transmission projects and the resulting impact on
regulatory revenue.
SSE added that the unit will also be impacted by the sale its
16.7% equity stake in Scotia Gas Networks Ltd. last October.
The British energy company said networks adjusted operating
profit for the year ended March 31, 2018 will be 150 million pounds
($201.2 million) lower than in the previous period.
Still, SSE said adjusted operating profit--which strips out
exceptional and other one-off items--for the half-year ended Sept.
30 is expected to be higher in its wholesale and retail units.
The company expects first-half adjusted earnings per share in
the range of 30 pence to 32 pence, compared with 34.2 pence
previously, and lower than fiscal 2017 for the full year ended
March 31.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
September 27, 2017 02:53 ET (06:53 GMT)
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