SSE reaffirms FY24 adjusted earnings per share guidance of more than 150 pence, noting a narrower range of probable financial outcomes for the full-year following lower than planned renewables output over the quarter.
SSE Renewables output over the first three quarters was around 15% below plan, or 10% below plan relative to full year, having been impacted by a combination of mixed weather conditions, short-term plant outages and rephasing of flexible hydro output into the fourth quarter. January has seen continued mixed weather conditions for the renewables fleet.
In SSE Thermal, performance continues to reflect lower spark spreads and market volatility when compared to the same period last year. However, the business is still expected to deliver its guidance of more than £750m adjusted operating profit, including more than £75m from Gas Storage, for FY24.
The Group's final full-year earnings outturn remains subject to factors such as plant availability, supportive market conditions and normal weather across the remainder of the fourth quarter. SSE will provide an update on performance for the final months of the year in its Notification of Closed Period statement.
The Group remains on course to deliver adjusted investment and capital expenditure of around £2.5bn in FY24.
https://www.investegate.co.uk/announcem ... nt/8027616
Also posted on Company News here; viewtopic.php?p=645497#p645497
I hold these in my HYP, and know others here do too.
Ian.