SSE profits to hit 1.5bn pounds, despite drop in customer numbers

SSE, one of the UK’s “Big Six” energy suppliers, has just recently revealed that it’s likely to record a 8.8% rise in profits, which are set to reach an impressive £1.54 billion, despite losing thousands of customers following price hikes announced last autumn.

According to a media source, the company lost close to 200,000 customers last year, but even so, it expects to deliver “an increase in adjusted profit before tax which is in line with the consensus of analysts’ forecasts” of £1,535 million and increase payouts to shareholders by 3%. Plus, things might change on the future, as the energy company is rolling back prices from March 24th by 3.5% after passing on savings from the Government’s green levy reform.

Alistair Phillips-Davies, Chief Executive of SSE said: “Despite what is clearly a difficult business environment, the overall performance of the company has been solid in 2013/14… It is encouraging that SSE is on course to deliver real growth in the dividend and increases in adjusted earnings per share and adjusted profit before tax.”

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