PERTH (SCOTLAND) (dpa-AFX) - Electricity company Scottish & Southern Energy Plc or SSE (SSE.L) Thursday said its first-quarter performance has slightly exceeded expectations, with continued progress on key energy infrastructure projects.
Further, the company reaffirmed fiscal 2023 guidance of adjusted earnings per share of at least 120 pence.
In its trading update, ahead of today's SSE Annual General Meeting, the company said its first-quarter trading further demonstrates the strength and stability provided by its balanced mix of regulated and market-facing businesses.
The company continues to anticipate adjusted capital expenditure and investment to total in excess of 2.5 billion pounds this financial year.
Further, progress continues to be made on the disposal of a 25 percent minority stake in SSEN Transmission with the formal process now under way.
The company has targeted an agreed sale by the end of the calendar year, with completion following receipt of regulatory approvals.
Gregor Alexander, Finance Director, said, 'We continue to make excellent progress on our Net Zero Acceleration Programme, investing at pace in the vital electricity infrastructure that will help build a more secure, affordable and sustainable energy system... We remain confident in our financial outlook for strong earnings growth this year and look forward to updating the market on performance in our interim results statement on 16 November 2022.'
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