Energy giant SSE saw profit rise slightly as it continued its transformation away from energy supply and to production of electricity. The company said that adjusted operating profit rose 1% to just over £1.5 billion, despite a £170 million hit from the Covid-19 pandemic. The hit was towards the lower end of what SSE had previously guided shareholders to expect. “SSE is continuing its drive to become a renewable energy giant, and combining electricity distribution networks with renewable generation continues to look like a shrewd strategy,” Mr Ryder said. “If execution continues to be up to standard, a very attractive utility could emerge in the years ahead.”PA Media

Source: Irish Independent May 26, 2021 09:33 UTC