Dow Jones Newswires: SSE swings to profit and lifts guidance [MarketWatch]
SSE PLC S/ADR (SSEZY)
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Source: MarketWatch
SSE swings to profit and lifts guidance SSE PLC reported Wednesday a swing to pretax profit for the first half of fiscal 2020 and raised its guidance for the year. The FTSE 100 energy company SSE, +0.16% said that for the six months ended Sept. 30, its pretax profit was 128.9 million pounds ($165.4 million) compared with a loss of GBP284.6 million for the first half of fiscal 2019. Adjusted pretax profit, one of the company’s preferred metrics which strips out exceptional and other one-off items, was GBP491.9 million, up 15%. Revenue was GBP3.05 billion, compared with GBP3.32 billion the year before. The board declared an interim dividend of 24 pence a share, compared with 29.3 pence the year before. SSE said it remains to committed to a full-year dividend of 80 pence a share as part of its five-year dividend plan to March 2023. The company said that at Sept. 30 SSE Energy Services, and its interests in gas production assets, were being held for sale. However the structure of the d
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