1517 GMT - Shares in SSE drop 0.6% to 1634 pence after the power generator reported lower-than-expected first-half underlying profit. Adjusted operating profit of GBP716 million fell short of consensus expectations of GBP756 million and Citigroup's forecast of GBP747 million, Citi says, describing the results as uninspiring. "While 1H earnings look reasonable at bottom line, the make-up of the numbers appears a bit on the weak side--interest and tax offsetting weak underlying operations," Citi analysts say in a note. "Given the lack of meaningful new update to SSE's outlook in today's results, we expect the shares to tread water. We rate SSE as neutral, price target 1486 pence." (philip.waller@wsj.com)

(END) Dow Jones Newswires

November 16, 2022 10:17 ET (15:17 GMT)

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