SSE updates market on earnings

SSE plc, the Perth-based energy infrastructure giant, on Wednesday updated the market that it expects full-year 2023-24 adjusted earnings per share to be between 152p and 160p per share.

“This narrower range is consistent with previous guidance of more than 150 pence, and reflects renewables output 13% below plan for the year to 21 March 2024 as well as SSE Thermal delivering adjusted operating profit of more than £750m,” said SSE.

“The group remains on track to report full-year 2023/24 capital expenditure of around £2.5bn, as it continues to progress its high-quality project pipeline.

“This is underpinned by a strong balance sheet, with adjusted net debt and hybrid capital expected to be around £9.5bn at 31 March 2024.

“In the longer term, the group continues to focus on the delivery of the investment, operational and financial growth targets as set out in the Net Zero Acceleration Programme Plus.

“This includes reaffirming the target of 175 – 200 pence adjusted earnings per share for 2026/27.”