Home Business NewsBusiness Electricity generator SSE hikes profit forecasts

Electricity generator SSE hikes profit forecasts

by LLB Reporter
30th Mar 23 10:26 am

SSE now expcts to make 160 pence per share in the 2022-23 financial year, up from previous guidance of more than 150 pence/share.

It credits the upgrade to a “continued strong performance” from its flexible generation plant as it supported the security of UK energy supplies.

Finance director Gregor Alexander said: “As we progress our ambitious net zero acceleration programme, we are investing more than we make in profits into the infrastructure society needs for a more secure, affordable and clean energy system. Our balanced business model has performed well in a volatile year, helping to ensure security of supply.

“At the same time, we are progressing multiple projects and adding to our pipeline as we deliver on our net zero-focused electricity infrastructure strategy. This strong performance leaves us well positioned to continue our significant investment programme and we will update the market with more detail in May.”

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