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SSE plc profit misses consensus by 20.9% in fiscal H1

SSE PLC said its normalized net income for the fiscal first half ended Sept. 30 amounted to 24 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 31 pence per share.

EPS fell 35.8% year over year from 38 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £246.4 million, a decline of 36.0% from £384.9 million in the year-earlier period.

Total revenue increased 8.2% year over year to £12.18 billion from £11.26 billion, and total operating expenses rose 10.0% year over year to £11.70 billion from £10.63 billion.

Reported net income decreased 43.9% from the prior-year period to £300.0 million, or 30 pence per share, from £535.1 million, or 53 pence per share.