By Christian Moess LaursenSSE swung back to a full fiscal-year profit and beat analysts' estimates on higher power prices boosting its renewables segment, offsetting energy prices coming down from last year's peaks. Operating profit increased to GBP2.61 billion from a loss of GBP146.3 million, boosted by its renewables segment reporting 47% higher contribution, and offsetting a significant drop in the thermal and gas-storage business. The Scotland-based energy company declared a final dividend of 40 pence, taking the full-year payout to 60 pence, down from 96.7 pence a year prior. SSE reiterated its target of 175 to 200 pence adjusted EPS for fiscal 2027. Write to Christian Moess Laursen at christian.moess@wsj.com(END) Dow Jones NewswiresMay 22, 2024 02:40 ET (06:40 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal May 22, 2024 12:46 UTC