UK energy company SSE has announced its preliminary results for the six months to 30 September 2015, during which adjusted profit before tax rose by 48.2% to £548.8M. The increase follows a wet and windier summer in Scotland and Ireland with higher renewable energy output, continued cost efficiencies across the group and an increase in business customers.
High rainfall and wind saw over one third of SSE’s generation output coming from renewables in the last six months. Energy portfolio management and electricity generation operating profit increased from £11.8M to £141.8M. This was a result of the 1.1TWh (38%) increase in output of renewable energy to 3.9TWh.
“We’ve had a solid start to the financial year but half year profits are only half the story," Alistair Phillips-Davies, Chief Executive of SSE, said. "There are many variables in energy and so they should be treated with caution – that’s why we focus on full year results."
