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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| National Grid Plc New | NYSE:NGG | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.45 | -0.67% | 66.31 | 66.93 | 66.30 | 66.80 | 287,058 | 01:00:00 |
From Apr 2019 to Apr 2024
By Oliver Griffin
National Grid PLC (NG.LN) said Thursday that its headline group earnings before interest and taxes for fiscal 2018 are expected to be below guidance due to the impact of storms on its U.S. businesses.
The British power-transmission network said that its U.S. businesses incurred major storm remediation costs of about 140 million pounds ($198.6 million) on the balance sheet will be largely offset by benefits to finance costs and a lower effective tax rate.
Underlying group Ebit continues to be expected in line with guidance, National Grid said.
The costs related to the storms are expected to be recovered in future periods, the company said.
Finance costs are expected to benefit from gains of about GBP60 million, National Grid said. The group's tax charge is also expected to be 24%, down from 27%, due to changes in the profit mix and the lower U.S. corporate tax rate.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
April 12, 2018 02:34 ET (06:34 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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