UPDATE 2-Higher gas prices and hot summer take wind out of SSE's sails [Reuters]
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG)
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Source: Reuters
UPDATE 2-Higher gas prices and hot summer take wind out of SSE's sails | Reuters 4 Min Read * Profit to halve in first six months * Shares hit over 7-yr low, rivals track * Hurt by persistent dry, still and warm weather, high gas prices (Adds details on losses, share fall) By Justin George Varghese Sept 12 (Reuters) - British power company SSE Plc warned this year’s hot and calm weather and higher gas prices had already knocked 190 million pounds ($248 million) off profits from its earlier plans, sending its shares nine percent lower. Britain’s second largest energy supplier said it expected profit to halve in the six months to the end of September compared to the same period a year ago. “Lower than expected output of renewable energy and higher than expected gas prices mean that SSE’s financial performance in the first five months has been disappointing and regrettable,” Chief Executive Alistair Phillips-Davies said. Shares dropped as much as 9.2 percent to 1,135.5 pence, dragging sh
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- 4/18/24 - Form 6-K
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