PERTH (SCOTLAND) (dpa-AFX) - Electric utility SSE plc (SSE.L) reported Friday that its fiscal 2018 profit before tax fell 38.9% to 1.09 billion pounds from 1.78 billion pounds a year ago.
Earnings per share declined 48.7% to 81.3 pence from 158.4 pence a year ago.
Adjusted profit before tax was 1.45 billion pounds, compared to 1.55 billion pounds last year. Adjusted earnings per share were 121.1 pence, compared to 125.7 pence ;
Revenue for the period increased to 31.23 billion pounds from 29.04 billion pounds last year.
Further, the company proposed final dividend per share of 66.3 pence, higher than 63.9 pence last year. This brings total dividend for the year of 94.7 pence, up 3.7 percent from last year.
For 2018/19, SSE is intending to recommend a full-year dividend of 97.5 pence per share, an increase of 3%.
For 2019/20, SSE is planning to set the first post-transaction dividend at 80.0 pence per share, which reflects the impact of the changes in the SSE group expected to take effect by then. This provides a sustainable basis for future dividend growth.
For 2020/21, 2021/22 and 2022/23 SSE is targeting annual increases in the full-year dividend that at least keep pace with RPI inflation.
Over the five years to March 2023, and based on existing plans, SSE expects its capital and investment expenditure to total around 6 billion pounds.
Copyright RTT News/dpa-AFX