National Grid 1st Half Pretax Profit Fell; Backs Fiscal Year 2019 Asset-Growth Forecast
November 08 2018 - 3:17AM
Dow Jones News
By Ian Walker
National Grid PLC (NG.LN) on Thursday reported a 33% fall in
pretax profit for the first half, and backed its full-year forecast
for asset growth.
The power company made a profit for the half year ended Sept. 30
of 522 million pounds ($684.8 million) compared with GBP780 million
a year earlier, on revenue that fell 5% to GBP6.35 billion.
Stripping out exceptional and other one-off items, National Grid
made an adjusted pretax profit of GBP816 million compared with
GBP846 million.
The company said it continues to expect asset growth at the top
end of a 5% to 7% range for the medium term, and at least 7% in the
near term.
The board raised its interim dividend 3.8% to 16.08 pence a
share.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
November 08, 2018 03:02 ET (08:02 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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