SSE Sees Adjusted Earnings Fall for Fiscal Year 2018; Backs Dividend Increase
By Adam Clark
U.K. energy company SSE PLC (SSE.LN) said Wednesday that it expects a fall in adjusted earnings per share for fiscal 2018 but still anticipates an increase in its full-year dividend.
SSE said that for its financial year to March 31 it expects adjusted EPS in the range of 116 pence to 120 pence ($1.63 to $1.69). This compares with adjusted EPS of 125.7 pence a share a year earlier.
The company said its expected capital investment for the year is now 1.60 billion pounds ($2.27 billion), down from previous guidance of GBP1.70 billion.
SSE said it still expects to report an annual increase in its full-year dividend that at least keeps pace with retail price inflation. SSE's full-year dividend per share in financial 2017 was 91.3 pence.
The company said the previously announced spinoff and merger of its household and services businesses with Npower, the U.K. retail-energy unit of Germany's Innogy SE (IGY.XE), remains on course to be completed by the last quarter of 2018 or the first quarter of 2019.
Write to Adam Clark at email@example.com; @AdamDowJones
(END) Dow Jones Newswires
January 31, 2018 02:38 ET (07:38 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.