PERTH (SCOTLAND) (dpa-AFX) - Scottish energy firm SSE Plc (SSE.L) Thursday said that first-quarter renewables performance was lower than planned, and the company continues to expect fiscal 2024 adjusted earnings per share of more than 150 pence.
In its first-quarter trading statement ahead of Annual General Meeting, the company said dry and still weather conditions in the quarter led to a shortfall over the period well below the long-term average, equating to a 5% shortfall on planned renewables output for the year.
However, the key months in SSE's financial year are still to come and the first few weeks of the second quarter have so far seen a return to more normal weather.
SSE noted that plant performance and market conditions are continuing in line with expectations.
Gregor Alexander, Finance Director, said, 'SSE is a long-term business with a clear strategy, and we remain focused on delivering the ambitious NZAP Plus growth plan that we announced in May. We are making good progress on the critical national infrastructure projects that underpin our growth plans out to 2027, and we continue to develop options that could see us invest up to £40bn over the next decade.'
SSE will issue a further business update on October 4.
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