British Energy expects second half profits knock

Source: Energy Digital

Date :13/11/2007 10:39:39

After problems at four of its reactors, the UK’s biggest energy provider has warned that its second half results will counteract its performance in the first.

BE posted a small increase in profits in the first half, but closures at four reactors due to problems with boiler closure units have prompted it to downplay expectations.

"The remainder of the financial year will be significantly impacted by the boiler closure unit issue at Hartlepool and Heysham 1," said the company in a statement released today.

Undisclosed

The company’s CEO Bill Coley declined to give a date for the return to production of the reactors.

“Until the inspections have been completed, it's simply too early to speculate on a detailed timetable for return to service of these units,” he said.

Mr. Coley went on to say that ‘present a challenge that will have a significant impact on financial performance for the remainder of the year'.

British Energy shares were down 0.7 percent at 514 pence this morning.

November 13, 2007