SSE Sees Profit Up 9.6% Amid Price Hikes

Energy giant SSE has seen its full-year adjusted pre-tax profit rise by 9.6% to 1.55bn, just months after announcing price increases.

But it saw the retail division operating profit fall 28.6% to 292m in the year to March 31 as energy usage plunged during the mild winter.

SSE is Britain’s second largest provider of household energy and announced it would increase prices last autumn.

It said increased output from renewable energy helped its wholesale arm’s operating profit rise to 634.6m – up 24.8%.

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21 May 2014 | 7:24 am – Source:

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