LONDON (ShareCast) - (Sharecast News) - Energy company SSE upgraded its full-year adjusted earnings per share guidance from 83.0p to 90.0p on Tuesday, citing the "strength and stability" provided by its balanced mix of regulated and market-facing businesses.
SSE stated a good financial performance from its flexible thermal and hydro plant was more than offsetting lower than planned renewables output and, as a result, now intends to recommend a full-year dividend of 81.0p per share plus RPI for the current trading year.

The FTSE 100-listed firm said it remained on track to report full-year capex in excess of £2.0bn, while net debt was expected to be around £9.0bn on 31 March, assuming proceeds from the disposal of its 33.3% stake in SGN can be received prior to the year-end.

Finance director Gregor Alexander said: "SSE's performance in the year so far gives us renewed confidence about delivery of good financial results for the full year. When coupled with the progress made on our capex plans in recent months, it also highlights the value we are creating for all stakeholders from [the] continued execution of our net zero-aligned strategy.

"The significant bolstering of SSE Renewables' pipeline, the increased visibility we have over opportunities for greater growth in SSEN Transmission and the balance provided by SSE Thermal through a turbulent trading period have demonstrated yet again the value of SSE's integrated business mix and its capacity for delivering sustainable shareholder returns over the long-term."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE