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Power utility SSE booked a large fall in annual adjusted profit after earnings fell at both its retail and wholesale operations.
Pre-tax profit for the year through March rose to £1.37bn, up from £864.4m on-year, as the company benefited from the proceeds of asset sales.
Adjusted pre-tax profit, however, fell 38% to £725.7m.
SSE declared a final dividend of 68.2p per share, bringing the full-year dividend to 97.5p, which the company said was in line with its five-year dividend plan.
'While our financial results clearly fell well short of what we hoped to achieve at the start of the year, we've made significant progress towards our ambition to be a leading energy company in a low-carbon world,' chairman Richard Gillingwater said.
'We have continued to develop our core businesses of regulated energy networks and renewables; demonstrated our ability to create and unlock value from developing and operating, as well as owning, assets; and adopted clear long-term goals as we set up the business for long-term success.'
'The fundamental strengths of our business and the strategic opportunities afforded by the transition to a low-carbon economy will support the delivery of our five-year dividend plan and creation of value for society as a whole.'