SSE expect profit growth despite loss of 50,000 customers

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Considered as one of the 'big six' energy suppliers, SSE has revealed that it expects a growth in profits, according to an article published by Scotsman.com.

The energy supplier remains confident despite the loss of around 50,000 customers during the last nine months of 2011, and the relatively mild winter enjoyed by many, which saw a much lower consumption of gas and electricity.

Analysts have forecast that the profit margin will increase by two per cent to £1.33 billion.

Commenting on the forecast, SSE's chief executive, Ian Marchant, said: "This financial year has been characterised by continuing economic uncertainty and ongoing challenges in global energy markets.

"That uncertainty and these challenges are likely to continue in the new financial year. Nevertheless, SSE remains on course to deliver further growth in the dividend and in adjusted profit before tax and I am particularly pleased with the continuing good progress in large capital projects."

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