2nd Oct 2025 09:46
(Alliance News) - SSE PLC on Thursday said its expectations for full year performance remain unchanged as delivery in the networks business continues to accelerate and investment in SSEN Distribution progresses.
In a trading update, the Perth, Scotland-based electricity generator said it expects to report half-year adjusted earnings per share of between 33 pence and 37p, in line with usual seasonal averages, and reflecting the majority of annual earnings being delivered in the second half.
SSE said it remains on track to deliver adjusted earnings per share of 175p to 200p in financial 2026 to 2027, compared to 160.9p in the financial year that ended this past March.
Half-year results will be published on November 12, SSE said.
Delivery in the networks business continues to accelerate, the company said, with all three large onshore transmission investment projects in SSEN Transmission now consented and investment in SSEN Distribution progressing.
As a result, adjusted investment in networks is expected to increase by 60% to GBP1.1 billion in the first half, compared to the year prior.
Strong renewables operational availability over the summer months was offset by unfavourable weather conditions - notably across April and May - with first half output expected to be around 2% lower than the same period last year, SSE said.
In addition, the company said it continues to make strong progress on its net zero acceleration programme plus investment programme, having submitted the final major accelerated strategic transmission investment consent application and secured planning permission for the Netherton Hub in Aberdeenshire.
The final major consent was also received for Berwick Bank offshore wind farm, following a decade of development work, SSE noted, while construction work continues across several sites, including Dogger Bank offshore wind farm and Strathy South onshore wind farm.
Reflecting this, SSE expects total capital expenditure and investment to be around GBP1.5 billion for the half-year, with adjusted net debt and hybrid capital expected to be around GBP11.5 billion.
Shares in SSE were down 1.8% at 1,734.22 pence each in London on Thursday morning.
By Jeremy Cutler, Alliance News reporter
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