National Grid confirms full-year results in line with expectations
National Grid PLC on Thursday confirmed its performance in the financial year that ended March 31 was in line with the expectations set out in its interim results, at constant currency.
The UK-based electricity and gas utility company in November forecast operating profit growth of around 10% on-year, as well as reduced financing costs, due to lower average net debt.
Underlying net revenue for UK Electricity Transmission was expected to increase by more £150 million, driven by higher allowances as a result of growing regulatory asset value, and underlying net revenue for UK Electricity Distribution was guided to increase by around £100 million.
Underlying operating profit for UK Electricity System Operator was set out at £115 million.
Looking ahead to the medium-term, National Grid said it expects an underlying earnings per share compound annual growth rate of 6% to 8% from a financial 2025 baseline.
National Grid will publish its full-year results on May 15.
Shares in National Grid were up 0.9% at 981.80 pence in London on Thursday morning.
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