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SSE beats full-year estimates, helped by energy supply business

Reuters - UK Focus

LONDON, May 20 (Reuters) - Britain's second-biggest energy supplier SSE (LSE: SSE.L - news) reported better than expected full-year results on Wednesday as its energy supply and network businesses made higher profits, helped by cool weather.

Scotland-focused SSE made 1.56 billion pounds in adjusted pretax profit in its financial year ending March 31, up 0.9 percent year on year, allowing it to pay an annual dividend of 88.4 pence per share, 2 percent higher than the previous year.

The utility's wholesale business, which includes its power plants, saw profits slip 25 percent to 473.8 million pounds, as its stations continued to suffer from high energy prices.

As a result, SSE said it had decided to close its 1,000-megawatt Ferrybridge coal-fired power station by March 31, 2016. (Reporting by Karolin Schaps; editing by David Clarke)