National Grid Fiscal Year 2019 Pretax Profit Fell on Higher Costs

Date : 05/16/2019 @ 8:14AM
Source : Dow Jones News
Stock : National Grid Plc (NG.)
Quote : 863.6  -7.2 (-0.83%) @ 8:03AM
National Grid share price Chart

National Grid Fiscal Year 2019 Pretax Profit Fell on Higher Costs

National Grid (LSE:NG.)
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6 Months : From Apr 2019 to Oct 2019

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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)

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