SSE’s Renewables output jumped 31% to 3.3TWh over the first quarter, helped by favourable weather conditions and new capacity coming online. Output from gas-fired flexible thermal plants increased 10% to 3.5TWh.
Investment in the group’s Networks business jumped 83% to £0.9bn, as part of the group’s plan to spend £5bn upgrading its energy infrastructure this year.
Full-year earnings per share guidance was reiterated at 168-193p (consensus forecasts: 183p), marking growth of around 18% at the midpoint.
The shares were broadly flat in early trading.
Our view
HL view to follow.
SSE key facts
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This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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