National Grid (LSE:NG.)
Historical Stock Chart
2 Months : From Apr 2019 to Jun 2019
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 firstname.lastname@example.org
(END) Dow Jones Newswires
May 16, 2019 02:59 ET (06:59 GMT)
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