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SSE warns of challenging energy sector and operating retail losses
SSE will report around £700m of investment in its energy assets during the six months to September 2014 when it publishes its half-year results in November.
The energy firm also expects to report an operating loss in its retail segment, and an increased operating profit in its networks segment.
Its wholesale segment is expected to show a reduced operating profit which the firm attributed to a decline in prices.
Gregor Alexander, SSE’s finance director, said: “We said at the start of the financial year that the issues facing the energy sector are very challenging, and that has proved to be the case.”
He added that there should still be “a fair return to investors”.