23rd Jan 2014 07:49
PERTH (SCOTLAND) (Alliance News) - Diversified utilities company SSE PLC. (SSE.L), in its interim management statement, said that it expects that it will deliver an increase in financial year ended 31 March 2014 adjusted profit before tax, which is in line with the consensus of analysts' forecasts.
SSE believed that the consensus is around 1.535 billion pounds, calculated as the average of 18 analysts' forecasts at 21 January 2014. This is before charges for coupon payments associated with hybrid capital, which are presented with dividends and reflected within adjusted earnings per share.
It also expects that it will report an increase of between 2% and 4% in adjusted earnings per share for the year.
The company projects an increase in the full-year dividend that is expected to be around 3% - the company's target is to deliver annual real dividend increases while maintaining dividend cover over the medium term within a range around 1.5 times.
In Operations, SSE's Total Recordable Injury Rate for the nine months to 31 December 2013, was 0.10 per 100,000 hours worked, compared with 0.14 during 2012/13 as a whole. Total output from gas production assets for the period was 300 million therms, compared with 131 million therms, reflecting the contribution of the Sean gas field assets acquired in April 2013.
SSE said it will publish its results for the financial year to 31 March 2014 on 21 May 2014.
Alistair Phillips-Davies, Chief Executive of SSE, said, "The operating environment is not expected to be any easier in 2014/15 but we have a well-balanced range of businesses and a good range of assets and we are determined to maintain our operational focus and financial discipline for the benefit of customers and investors."
Copyright RTT News/dpa-AFX
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