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Utility group SSE confirmed that earnings for the year to 31 March 2020 will be 'around 85p to 90p', within the range of analysts' forecasts and in line with the range it gave in May.
While first half operating profits are significantly lower than normal this year, accounting for around 20% of the full-year target instead of 35%, due to costs from its Energy Portfolio Management programme and an inability to recognise income from the Capacity Market which remains suspended.
However 'recent favourable weather conditions mean that output of renewable energy as at mid-September 2019 is in line with the forecast annual total for the year, compared with the shortfall of around 4% as at June 2019'.