LONDON (AFX) - Scottish & Southern Energy PLC said strong growth in its generation and supply business helped it lift interim pretax profits before exceptionals and other items by 25.5 pct to 336.3 mln stg.
SSE said operating profits in the G&S business in the six months to Sept 30 rose by 41.8 pct to 190 mln stg, contributing 47 pct of the company's total operating profit in the first half.
Operating profit growth resulted from ongoing benefits from the group's newly acquired Ferrybridge and Fiddler's Ferry power stations and sustained growth in energy supply customer numbers to 6.5 mln at the end of October, among other factors.
SSE, which announced last week that it will hike energy bills by up to 13.6 pct from January 1 next year, said the profit growth was offset by the impact of high wholesale energy and carbon prices.
The company, which has been linked with a possible bid for rival Scottish Power PLC, did not comment in its results on the speculation, except to say it had maintained its balance sheet strength, giving it "the freedom to exploit its investment opportunities in the second half of this decade".
SSE said it plans to invest around 225 mln stg in the installation of flue gas desulphurisation equipment at its coal-fired generation plant.
It added that it had secured consent to develop what will be Scotland's
second largest conventional hydro-electric scheme, at Glendoe near Loch Ness.
It said its claim on the administration of TXU businesses continued successfully, with a second distribution of 48.7 mln stg being received from
the administrator.
The company said it is declaring an interim dividend of 13.8 pence per share, an increase of 13.1 pct. Adjusted earnings per share lifted by 21.9 pct to 28.4 pence.
It said it is on course to achieve its target of at least 4 pct real growth in the dividend payable to shareholders in each of the years to March 2008, with sustained real growth thereafter.
Chief executive Ian Marchant said SSE had delivered another very good financial and operational performance.
"SSE's focus has always been, and remains, the delivery of sustainable long-term real dividend growth," he said.
"We have consistently sought to achieve this by maintaining and investing in energy networks, adding to our generation portfolio, growing our energy supply business and developing further our presence in contracting, connections, gas storage and telecoms.
"We will maintain this approach and our emphasis on strong operational performance, for the rest of this financial year and beyond.
"The prospects for sustained real growth in the dividend remain
excellent."

Good morning all.

Good morning all

Definately an ex div day!

End-of-day Market Summary

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Anyone any suggestions how I can get it removed.