By Jaime Llinares Taboada

SSE PLC on Thursday reiterated earnings guidance for fiscal 2023, as its performance slightly exceeded expectations in the first quarter ended June 30.

The Scotland-based energy group continues to expect earnings per share of at least 120 pence ($1.44) for the year ending March 31, 2023, which would be up from 95.4 pence in fiscal 2022.

In addition, SSE said its renewable electricity output rose to 2,129 gigawatt-hours in the first quarter from 1,722 GWh a year earlier, and was 5% above plan due to weather conditions. Thermal power generation increased to 3,809 GWh from 3,751 GWh on year due to market conditions and plant availability.

SSE said it continues to make progress on its capex projects and on the disposal of a 25% stake in its power transmission business.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

July 21, 2022 02:44 ET (06:44 GMT)

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