National Grid Fiscal Year 2019 Pretax Profit Fell on Higher Costs
May 16 2019 - 3:14AM
Dow Jones News
By Adriano Marchese
National Grid PLC (NG.LN) on Thursday said pretax profit fell
31% in fiscal 2019 due to higher costs.
The British utilities company said profit before tax was 1.84
billion pounds ($2.37 billion) in the year ended March 31, compared
with GBP2.66 billion the year before.
Revenue for the year was GBP14.93 billion, down from GBP15.25
billion in fiscal 2018.
The board declared a final dividend of 31.26 pence a share,
bringing the total year's payout to 47.34 pence, this compares with
45.93 pence last year.
The company said it will focus on continued investments, which
it said will rise to almost GBP5 billion a year for the next two
years.
National Grid said it is on track for asset growth at the top
end of its 5% to 7% range in the medium term.
Write to Adriano Marchese at adriano.marchese@dowjones.com
(END) Dow Jones Newswires
May 16, 2019 02:59 ET (06:59 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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