Scot Power back in the black

SCOTTISH Power delivered a strong turnaround from losses at the half-year stage with pre-tax profits up nearly 50% to £202m in the three months to the end of December.

That sent pre-tax profits for the nine months back into the black at £67.8 million after the £135m deficit recorded at the interim stage, though it is still 70% down on the previous year.

In line with its policy of 5% annual dividend growth, Scottish Power is lifting the third-quarter payout to 6.835p.