Energy giant stands by profit predictions

SCOTTISH energy giant SSE has stood by its yearly financial outlook despite witnessing a dip in renewable energy production over the recent quarter.

- GUY TAYLOR

The company had previously tightened its annual earnings per share projection to a range of 155p to 160p and signalled a substantial reduction in future investment plans.

Nevertheless, SSE has maintained its commitment to long-term profit goals, reasserting yesterday its adjusted earnings per share forecast of between 175p to 200p.

Attributing a 4% year-on-year fall in quarterly renewables output to “unfavourable weather conditions,” SSE cautioned that its future projections for this fiscal year hinge on “weather, market conditions and plant availability,” with critical winter months ahead.