Scottish & Southern Predicts Higher Profit

27 September 2009 (Last Updated September 27th, 2009 18:30)

Utility Scottish & Southern Energy said it expects to record a significantly higher first-half adjusted pretax profit compared to low results it posted last year. Fiscal-year adjusted pretax profit is expected to increase moderately compared to last year, the company said.

Utility Scottish & Southern Energy said it expects to record a significantly higher first-half adjusted pretax profit compared to low results it posted last year.

Fiscal-year adjusted pretax profit is expected to increase moderately compared to last year, the company said.

The firm also expects to increase its dividend per share payout by at least 4% more than inflation.

Ensuring the combined cycle gas turbine (CCGT) Marchwood plant in Southampton, England, becomes fully operational in the next few weeks is the "most immediate priority in our programme of projects and investments", the utility said in a statement.

"Our enhanced generation portfolio and other major projects will support sustained real growth in the dividend in the years ahead," CEO Ian Marchant said.