UK power generator SSE posts 23% jump in annual profit

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Reuters UK

(Reuters) – British power company SSE Plc reported a 23% jump in annual profit on Wednesday and said it was investing significantly more than it was making in profit to help reduce dependency on imported gas. The group’s adjusted pretax profit came in at 1.16 billion pounds ($1.45 billion) for the year ended March 31, compared with 948.9 million pounds a year earlier. The results were buoyed by strong performance from thermal power plants after wholesale energy prices soared. The results come as Britain is reported to be considering a windfall tax on companies that have benefited from high ene…

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