SSE, one of the UK’s biggest renewable energy and grid operators, has pushed back its full-year earnings forecast following rising gas and electricity prices.
The FTSE 100 electricity generator on Friday said it now expected adjusted earnings of more than 150p a share for the financial year to the end of March, up from its previous outlook of “at least” 120p.
The network operator said the upgrade “reflects the strength of the group’s diverse business mix” as well as “increased certainty of strong operational performance”.
SSE remains on course to deliver a record investment of more than £2.5bn this year “with clear visibility for further investment opportunities that support the transition to net zero”, the statement said.
The London-listed energy group in November reported a fourth rise in profits in the six months to September, boosted by volatility in gas and electricity prices that have fueled the cost of living crisis.
The group’s shares have risen 7.4 percent in London trade over the past year.