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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
National Grid Plc | LSE:NG. | London | Ordinary Share | GB00BDR05C01 | ORD 12 204/473P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-2.20 | -0.25% | 870.60 | 870.40 | 870.80 | 877.60 | 869.20 | 870.20 | 1,862,207 | 11:13:42 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Combination Utilities, Nec | 24.25B | 7.8B | 2.1140 | 4.13 | 32.21B |
By Anthony O. Goriainoff
National Grid said its fiscal first-half pretax profit fell as adjusted operating profit missed consensus, and that it expects new U.K. legislation to weigh on underlying earnings per share.
The U.K. electricity-transmission network operator said Thursday that for the six months ended September, pretax profit was 1.25 billion pounds ($1.54 billion) compared with GBP1.67 billion the year before.
Underlying operating profit--which excludes exceptional items, remeasurements and timing--fell 15% to GBP1.8 billion, the company said. Company-compiled consensus for the metric was GBP4.48 billion. National Grid said this was due to non-recurring items reported in fiscal 2023.
Revenue fell to GBP8.49 billion from GBP9.44 billion.
National Grid declared an interim dividend of 19.40 pence a share, up from 17.84 pence a year earlier.
The company said that although new capital allowances legislation will affect adjusted EPS by 6 pence to 7 pence a share it doesn't see an economic impact over the long term.
The company updated its financial outlook over the five-year period to 2026. National Grid raised its total cumulative capital investment to up to GBP42 billion from prior guidance of GBP40 billion.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
November 09, 2023 02:52 ET (07:52 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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