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National Grid PLC on Thursday said it has performed in line with its own expectations during the first half of 2024. The electricity infrastructure and gas utility said that in the half year ended September 30 it performed in line with company expectations. Looking ahead, National Grid expects underlying earnings per share to have a greater weighting to the second half of the financial year. Meanwhile, it said it expects operating profit weighting across the company to be more reflective of historic periods. ‘For our UK regulated businesses, we expect contributions to operating profit to be broadly evenly split across the year. For our US regulated businesses, we expect contributions to be more heavily weighted towards the second half. Our New York business is expected to deliver 10-15% of its full year operating profit in the first half, given a higher non-cash environmental provision charge. We expect a broadly even split of operating profit between the first and second half in National Grid Ventures and Other,’ it explained. National Grid’s half year results will be announced on November 9. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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