Adjusted pre-tax profits for SSE, saw an increase, rising to £2.18 billion for the year ending in March.
This marked a significant growth from the previous year’s figure of £1.16 billion.
The surge in profits was largely driven by the impressive performance of the company’s gas-fired power plants, which experienced an almost four-fold increase in earnings, reaching £1.24 billion, compared to £331.1 million in the previous year.
Under a new investment plan, SSE is projected to commit up to £40 billion over the next decade, spanning until 2031/32.
The company said it had invested £2.8 billion in low carbon electricity infrastructure, surpassing the group’s adjusted profit after tax of £1.8 billion by more than 50%.
Alistair Phillips Davies, Chief Executive of SSE, said: “The results that we have reported today represent profit with a purpose. They enable us to deliver record investment – far in excess of our earnings – in vital low carbon energy infrastructure.
“They are also a testament to the strength of our balanced business mix and net zero-aligned strategy, which sees us investing in the solutions to the energy crisis.”
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