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SSE plc fiscal H1 profit climbs 164.3% YOY

SSE PLC said its normalized net income for the fiscal first half ended Sept. 30 came to 38 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 35 pence per share.

EPS rose 160.9% year over year from 15 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £384.9 million, a gain of 164.3% from £145.6 million in the prior-year period.

Total revenue fell 18.6% year over year to £11.26 billion from £13.83 billion, and total operating expenses decreased 21.7% year over year to £10.63 billion from £13.58 billion.

Reported net income rose 147.8% year over year to £476.6 million, or 47 pence per share, from £192.3 million, or 19 pence per share.