SSE remains confident of ‘solid’ full-year result

Scottish Hydro parent company SSE today said it remains on course to deliver a “solid” set of annual results.

The group, which has deployed more than 500 people to restore power to Arran and Kintyre, also said shareholders are in line to enjoy an inflation-busting rise in the full-year dividend to about 84p a share.

In a trading update ahead of its full-year results, due to be published on 22 May, SSE said all three of its divisions – networks, retail and wholesale – have been profitable during the current year, with a profit margin of about 5 per cent at its energy supply business.

Finance director Gregor Alexander said: “Despite the continuing challenges in the energy sector and the wider economy in Britain and Ireland, SSE is on course to deliver solid financial results in May.

“The priority now is to make a good start to the new financial year so that SSE fulfils its well-established target for 2013/14 of an above-RPI inflation dividend increase.”