SSE Sees Weaker 1st Half; Fiscal Year 2020 Adjusted EPS in Line

   By Adria Calatayud

SSE PLC (SSE.LN) said Thursday that it expects a lower profit contribution in the first half of fiscal 2020, but said that full-year adjusted earnings per share are expected to be in line with forecasts.

The FTSE 100-listed energy company said adjusted EPS for the year to the end of March 2020 are expected to be around 85 pence to 90 pence.

For the six months to Sept. 30, the company said it expects adjusted operating profit to be around 20% of its full-year total, having typically been around 35%. SSE said it will book most of its expected energy portfolio management loss in the first half, as it is unable to recognize outstanding payments that are expected to be received by its thermal and renewable electricity-generation businesses.

"The key months of our financial year are still to come, and working to mitigate the economic, regulatory and political uncertainties arising from the Brexit process will continue to be a key priority for SSE," Finance Director Gregor Alexander said.

SSE said it remains to committed to a full-year dividend of 80 pence a share as part of its five-year dividend plan to March 2023.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

September 26, 2019 02:33 ET (06:33 GMT)

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