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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Scottish and Southern Energy    SSE   GB0007908733

SCOTTISH AND SOUTHERN ENERGY

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Scottish and Southern Energy : SSE Expects 1st Half Adjusted Operating Profit to Fall by Half

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09/12/2018 | 02:38am EST

By Oliver Griffin

SSE PLC (SSE.LN) said Wednesday that it expects adjusted operating profit for the first half of fiscal 2019 to fall by half compared with the year earlier period, citing the impact of high gas prices and warm weather.

The energy company, which is based in Scotland, said its adjusted operating profit in the first five months of the financial year, to Aug. 31, was down by around 190 million pounds ($247.4 million) compared with previous estimates.

The company said that due to the price cap put forward by U.K. energy regulator Ofgem--which is expected to be put in place by the end of 2018--it forecasts that the adjusted operating profit for its energy services business will be significantly less than expected at the start of fiscal 2019.

SSE said it expects to still recommend a full-year dividend of 97.5 pence a share for the financial year. It also expects to stick to the five-year dividend plan that it set out in May.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

Stocks mentioned in the article
ChangeLast1st jan.
SCOTTISH AND SOUTHERN ENERGY 0.29% 1202 Delayed Quote.11.14%
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Financials (GBP)
Sales 2019 31 469 M
EBIT 2019 1 140 M
Net income 2019 758 M
Debt 2019 9 815 M
Yield 2019 8,14%
P/E ratio 2019 16,90
P/E ratio 2020 12,84
EV / Sales 2019 0,70x
EV / Sales 2020 0,71x
Capitalization 12 303 M
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Technical analysis trends SCOTTISH AND SOUTHERN ENER
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 12,9  GBP
Spread / Average Target 7,4%
EPS Revisions
Managers
NameTitle
Alistair Phillips-Davies Chief Executive Officer & Executive Director
Richard D. Gillingwater Chairman
Anthony Edward Keeling Chief Operating Officer
Gregor Alexander Finance Director & Executive Director
Martin Pibworth Director & Managing Director-Wholesale Division
Sector and Competitors
1st jan.Capitalization (M$)
SCOTTISH AND SOUTHERN ENERGY11.14%15 863
DUKE ENERGY CORP1.40%62 384
DOMINION ENERGY2.52%56 888
IBERDROLA3.31%53 390
SOUTHERN COMPANY10.56%49 963
EXELON CORPORATION7.01%46 800