National Grid 1st Half 2020 Pretax Profit Fell 23%; Backs Guidance
14 Noviembre 2019 - 02:08AM
Noticias Dow Jones
By Anthony O. Goriainoff
National Grid PLC (NG.LN) said Thursday that pretax for the
first half of fiscal 2020 profit dropped 23% as revenue fell, and
backed its guidance.
The power company said that for the period ended Sept. 30,
pretax profit was 404 million pounds ($518.9 million) compared with
GBP522 million for the first half of fiscal 2019.
Stripping out exceptional and other one-off items, National Grid
made an adjusted pretax profit of GBP572 million, compared with
GBP846 million in the year-prior period.
Underlying operating profit was up 1% at GBP1.3 billion due to
an increase in U.S. regulated profits.
Revenue was GBP6.29 billion compared with GBP6.35 billion the
year before.
The board declared an interim dividend of 16.57 pence a share,
compared with 16.08 pence the year before.
The company said in May that for 2019-20 it continues to expect
a good financial performance in its U.S. business, following the
agreement of a number of regulatory filings. It also said the U.K.
business remains on track to deliver continued outperformance, but
the contribution from the NG Ventures business and other activities
is expected to reduce, reflecting the nonrecurrence of proceeds
from its Fulham property sale and the favorable legal settlements
in 2018-19.
National Grid said it expects asset growth of around 7% in the
near term with annual capital investment of almost GBP5
billion.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
November 14, 2019 02:53 ET (07:53 GMT)
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