SSE Half-Year Pretax Profit Hit by Rising Costs
November 11 2015 - 2:54AM
Dow Jones News
By Razak Musah Baba
LONDON--U.K. utility SSE PLC (SSE.LN) Wednesday posted a fall in
half-year pretax profit due mainly to higher costs and said it has
made a good start to the year.
For the six months to Sept. 30, the electricity and gas company
posted pretax profit of 230.8 million pounds ($347.1 million)
compared with GBP316.6 million a year earlier on revenue of
GBP13.83 billion and GBP12.41 billion ,respectively.
Stripping out exceptional items and other one-off costs, pretax
profit rose to GBP518.1 million from GBP334.6 million, SSE
said.
"There should always be a degree of caution about half-year
results, yet SSE has made a solid start to the 2015/16 financial
year," Chairman Richard Gillingwater said.
SSE increased its interim dividend by 1.1% to 26.9 pence per
share.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 11, 2015 02:39 ET (07:39 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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