Business Irish

Tuesday 23 October 2018

Profits dip at SSE Airtricity owner

Lee Desmond of St Patrick's Athletic in action against Dan Carr of Shamrock Rovers during an SSE Airtricity League Premier Division match. Photo by Seb Daly/Sportsfile
Lee Desmond of St Patrick's Athletic in action against Dan Carr of Shamrock Rovers during an SSE Airtricity League Premier Division match. Photo by Seb Daly/Sportsfile
Independent.ie Newsdesk

Independent.ie Newsdesk

Operating profits at SSE Airtricity’s UK-based owner SSE fell by 28.9pc year-on-year to £1.4bn (€1.6bn) as the business is squeezed by competition.

In the 12 months to March 31 the group reported adjusted operating profit of £1.8bn, a decline of 2.4pc year-on-year.

During the period the group incurred exceptional charges of £213m, according to the results announcement.

At March 31, 2018, SSE Airtricity supplied electricity and gas to 740,000 homes and businesses on the island of Ireland, down on 2017 amid increased competitive pressures. It is ten years since SSE bought Airtricity.

In the last 16 months the company has delivered seven new onshore wind energy projects, including Leanamore (18MW) in Ireland.

SSE Airtricity sponsors the League of Ireland soccer competition, pictured.

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