Business

Scottish & Southern Energy sees small rise in profits

Gas ring
Image caption The profit rise came despite a fall in revenues

Scottish & Southern Energy has reported a small rise in annual profits and changed its dividend payment policy.

SSE - which supplies electricity and gas to 9.35 million customers in the UK - made a profit of £1.29bn in the year to 31 March, up 3% from a year before.

The firm also said that over the next three years it would raise its dividend to shareholders by at least 2% more than Retail Price Index inflation.

Between 2007 and 2010 it had targeted increases of at least 4%.

SSE's rise in profits came despite a fall in revenues, which declined 15% from a year earlier to £21.6bn.

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