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National Grid PLC on Thursday said its performance in the six months to the end of September was in line with its own projections. The London-based electricity and gas utility, which operates the UK’s electricity transmission network, expects underlying earnings per share to be weighted to the second half of the year ‘as usual’ and the profile of half year operating profit to be ‘broadly consistent’ with historical periods. In its UK Electricity Transmission and UK Electricity Distribution arms, National Grid projects operating profit to be ‘broadly evenly split’ across the year. In its US regulated businesses, the firm expects operating profit to be weighted to the second half. ‘Relative to the same period last year there have been fewer storms in our New York business, as well as new electricity distribution rates in our New England business. As such, we expect a slightly higher contribution to operating profit from both businesses in the first half relative to the profile last year,’ National Grid said. The company expects a roughly even weighting of profitability across the year in National Grid Ventures. Shares in National Grid were down 0.9% at 1,065.50 pence each in London on Thursday morning. Half-year results will be be announced on November 6, it said. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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