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SSE plc fiscal Q4 profit falls YOY

SSE PLC said its normalized net income for the fiscal fourth quarter ended March 31 came to 36 Great British pence per share, a decrease of 7.1% from 39 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £365.3 million, a decrease of 6.5% from £390.7 million in the year-earlier period.

The normalized profit margin fell to 4.1% from 5.2% in the year-earlier period.

Total revenue grew 18.9% year over year to £8.89 billion from £7.47 billion, and total operating expenses climbed 21.0% year over year to £8.32 billion from £6.88 billion.

Reported net income grew 318.6% from the prior-year period to £561.5 million, or 55 pence per share, from £134.1 million, or 13 pence per share.

For the year, the company's normalized net income totaled £1.10 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of £1.24.

EPS rose from 93 pence in the prior year.

Normalized net income was £1.12 billion, a rise from £926.9 million in the prior year.

Full-year total revenue totaled £29.04 billion, compared with £28.78 billion in the prior year, and total operating expenses totaled £27.28 billion, compared with £27.33 billion in the year-earlier period.

The company said reported net income rose 247.3% year over year to £1.60 billion, or £1.58 per share, in the full year, from £460.6 million, or 46 pence per share.