"Continued strong performance from flexible generation plant to support security of supply has more than offset the lower-than-planned renewables output and associated hedge buy-back costs," SSE said in a statement.

SSE said it intends to recommend a full-year dividend of 85.7 pence per share plus the retail price index for 2022/23 year, followed by a rebase to 60 pence in 2023-24 to support its investment plans.

The company said it is targeting dividend increases of at least 5% per annum for 2024-25 and 2025-26 fiscal years.

The company said it now expects its 2022-23 adjusted earnings per share to be more than 160 pence, compared with the previous guidance of more than 150 pence.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu)