SSEZY SSE PLC (PK)

By Anthony O. Goriainoff

SSE PLC said Tuesday that it upgraded fiscal 2022 adjusted earnings-per-share expectations to at least 90 pence ($1.22) from at least 83 pence, and that this reflected the strength and stability provided by its mix of regulated and market-facing business.

The FTSE 100 energy company said it is on track to report a capital expenditure in excess of GBP2 billion for the fiscal year. Net debt is expected to be around GBP9 billion as of March 31, provided the the proceeds from the disposal of its 33% stake in Scotia Gas Networks Ltd. are received before the year-end.

The company also said total renewables output in the nine months ended Dec. 31 fell to 6,076 gigawatt hours from 7,202 gigawatt hours a year earlier.

The board proposed a full-year dividend of 81 pence a share.

"SSE's performance in the year so far gives us renewed confidence about delivery of good financial results for the full year. When coupled with the progress made on our capex plans in recent months, it also highlights the value we are creating for all stakeholders from continued execution of our net zero-aligned strategy," the company said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

February 08, 2022 02:46 ET (07:46 GMT)

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