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SSE Affirms FY Outlook - Quick Facts

SSE plc (SSE.L) said Thursday that its outlook for the financial year 2019/20 remains unchanged from the outlook given in May 2019, despite lower than forecast renewable energy output in the first three months.

The company also reiterated its intention to recommend a full-year dividend of 80 pence per share for 2019/20, in line with the five-year dividend plan set out in May 2018.

"The early months of our financial year have brought some short-term challenges and some encouraging longer-term developments, but the key months of our financial year lie ahead. I am confident we will make good progress in delivering against our strategic priorities, including the five-year dividend plan out to 2023," said SSE Chief Executive Alistair Phillips-Davies.

For the three months to June 2019, SSE Renewables reported an increase in total renewables output to 1,794 GWh from 1,562 GWh in the year-ago period, largely reflecting the delivery of new wind farm capacity since June 2018.

In June, SSE said it plans to close the remaining operational capacity of 1,510MW at Fiddler's Ferry, its last remaining coal-fired power station. SSE is now in consultation with employees and trade unions with an intention to close the station by 31 March 2020.

If Fiddler's Ferry is closed, SSE will cease being a generator of electricity from coal.

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