UK utility SSE PLC (LON:SSE) will on Friday provide a trading update for the market, and it may not make for pleasant reading if you’re a shareholder, suggests The Share Centre.
“2018 proved to be a difficult year for the group, culminating in the failure to merge its retail business with Innogy and the rebasing of the dividend for 2020,” the broker said.
“Any further updates on the group’s future plans and regulatory issues will be worth noting. The recent cold weather is likely to have come too late to have boosted demand.”
Back in November, SSE reported a 24% fall in half-year profit, well behind its previous guidance as performance was hit by weakness in the wholesale division.
Unfavourable weather impacted generation, and high gas prices hurt the Energy Portfolio Management business. But lower oil prices mean the division’s unlikely to have suffered as much this quarter.
Significant events expected on Friday, February 8:
Trading updates: SSE PLC (Q3) (LON:SSE)
Economic data: US wholesale inventories