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SSE PLC on Wednesday updated on its performance for the period to September 30, eyeing a stronger half-year and a weaker full-year compared to a year prior amid a lower price environment. The Perth, Scotland-based energy firm expects to report interim adjusted earnings per share of at least 30 pence, swung from a loss of 39.7 pence posted for the first half of financial 2023. In the first half of financial 2022, adjusted EPS were 103.6p. The guidance reflects a weaker-than-expected performance in renewables, due to adverse weather conditions. While it expects the ‘lower power price environment and more stable market conditions’ to continue over the financial year, it still guides for annual adjusted EPS of over 150p, compared to 166p in financial 2023. This is in light of its ‘balanced portfolio of assets across electricity networks, renewables, flexible generation and storage’. However, its performance in the key winter months ahead will depend on weather conditions, plant performance and market conditions. SSE will update on EPS guidance for financial year 2024 ending March 31 later in the year. ‘Our primary focus remains on delivery of our five-year plan out to 2027, which is the platform for up to £40 billion of investment in net zero over the next decade,’ said Finance Director Gregor Alexander. SSE will release its half-year results on November 15. SSE shares were 0.3% higher at 1,525.00 pence each on Wednesday morning in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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