SSE Sees Adjusted Earnings Fall for Fiscal Year 2018; Backs Dividend Increase
January 31 2018 - 2:53AM
Dow Jones News
By Adam Clark
U.K. energy company SSE PLC (SSE.LN) said Wednesday that it
expects a fall in adjusted earnings per share for fiscal 2018 but
still anticipates an increase in its full-year dividend.
SSE said that for its financial year to March 31 it expects
adjusted EPS in the range of 116 pence to 120 pence ($1.63 to
$1.69). This compares with adjusted EPS of 125.7 pence a share a
year earlier.
The company said its expected capital investment for the year is
now 1.60 billion pounds ($2.27 billion), down from previous
guidance of GBP1.70 billion.
SSE said it still expects to report an annual increase in its
full-year dividend that at least keeps pace with retail price
inflation. SSE's full-year dividend per share in financial 2017 was
91.3 pence.
The company said the previously announced spinoff and merger of
its household and services businesses with Npower, the U.K.
retail-energy unit of Germany's Innogy SE (IGY.XE), remains on
course to be completed by the last quarter of 2018 or the first
quarter of 2019.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
January 31, 2018 02:38 ET (07:38 GMT)
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