Blustery weather across the UK in the last three months has put the wind in the sails of SSE’s boss Alistair Phillips-Davies, whose company generated more electricity than expected from its wind turbines. Adjusted operating profit rose 14% to £492 million in the first six months of the financial year due to “generally wet and windy weather”. SSE swung from a £285 million pre-tax loss in the first six months of 2018 to a £129 million profit this year, and invested £446 million in its regulated electricity networks and renewable energy. It is a good set of results for chief executive Mr Phillips-Davies, his first since the company decided to sell its power supply arm to challenger brand Ovo.
Dundee Courier 13th Nov 2019 read more »