By Ian Walker

SSE PLC narrowed its guidance for full-year adjusted earnings per share, citing an improved renewables output and the performance of SSE Thermal.

The U.K. energy group said Wednesday that it expects to report adjusted EPS for the year ending March 31 of 152 to 160 pence ($1.92-$2.02) compared with previous guidance for more than 150 pence.

Renewables output is 13% below plan, compared with 15% for the nine months ended Dec. 31, while the Thermal business is expected to deliver adjusted operating profit of more than 750 million pounds ($947.2 million), as previously guided, the company said.

SSE reiterated its target of 175 to 200 pence adjusted EPS for fiscal 2027, as the group continues to deliver its "Net Zero Acceleration Program Plus" plan.

By Ian Walker at

(END) Dow Jones Newswires

03-27-24 0342ET