SSE Plc (SSE.L) posted full-year pre-tax profit of 268.5 million pounds, lower than 2.11 billion pounds last year.
Earnings per share dropped to 21.1 pence from 162.0 pence in the prior year.
Adjusted Profit Before Tax was 1.34 billion pounds, up from 1.31 billion pounds last year.
Revenue grew to 31.72 billion pounds from 28.33 billion pounds a year ago.
Lord Smith of Kelvin, Chairman of SSE, said,
"There are three issues over which SSE has no control but which in one way or another touched every part of its business in 2011/12 - upheaval in global energy markets, widespread economic uncertainty and the weather. Higher wholesale gas prices, falling demand for energy and a succession of winter storms presented major challenges for the wholesale, retail and networks parts of SSE.
"The fact that, despite all of this, SSE has again delivered increases in the full-year dividend and in adjusted profit before tax* demonstrates the resilience inherent in its balanced model of market-based and economically-regulated businesses, and the robustness of its strategy of focusing on operations and investment in each of those businesses. It also demonstrates the commitment and professionalism of the people who work for SSE throughout the UK and Ireland..."
For 2011/12, the Board is recommending a final dividend of 56.1 pence per share, making a full-year dividend of 80.1 pence, an increase of 6.8% on the previous year.
SSE's key financial objective will remain the delivery of increases in the dividend paid to shareholders, and its targets are to deliver a full-year dividend increase of at least 2% more than RPI inflation for 2012/13; and annual dividend increases from 2013/14 onwards which are greater than RPI inflation.
Separately, SSE said that, through its wholly-owned subsidiary Airtricity Energy Supply (Northern Ireland) Limited, it has entered into an agreement with Phoenix Energy Holdings Limited, a Terra Firma company, to acquire the entire issued share capital in Phoenix Supply Limited.
The total cash consideration is 19.1 million pounds excluding working capital related adjustments. The acquisition is subject to approval by the Irish Competition Authority and SSE expects to complete the purchase during the summer.
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