Half year report for the six months ended 30 September 2014
Steve Holliday, Chief Executive, said: "After the first six months of 2014/15 National Grid remains on track to deliver another year of strong overall returns and asset growth. We continue to provide good value and strong reliability for customers while keeping our element of bills as low as possible."
Positive first half performance
· Overall performance in the first six months in line with Group expectations for the full year
· UK: continued delivery of good operational performance and capital programme efficiencies
· US: strong growth and completion of major financial system upgrade balanced by increased gas mains repair costs following the exceptionally cold winter of 2013/14
· Interim dividend of 14.71p per share in line with policy
Financial results for continuing operations
· Adjusted operating profit1 2% higher at £1,611m
· Adjusted earnings per share1 16% higher at 23.4p principally due to lower financing costs