Business
Report for the period ended 30 September 2018
Report for the period ended 30 September 2018.
About this update from National Grid Plc
[{"type":"text","content":"\n \nRNS Number : 7052G National Grid PLC 08 November 2018 \n\n \n\n\n\n\n \nLondon | 8 November 2018:\nNational Grid, a leading energy transmission and distribution company, today announces its Half Year results. \n\n\n\n\n \nReport for the period ended\n30 September 2018\n \n\n\n\n\nHighlights\n· Maintained strong reliability and safety across all networks\n \n· Decided to exercise Cadent 39% options; sale completion in June 2019 providing £2bn cash proceeds\n \n· Reached major milestone in the US with all distribution companies under refreshed rates\n \n· Approved £850m investment to proceed with Viking interconnector\n \n· Launched UK cost efficiency and restructuring programme\n \n\n\nFinancial performance\n· Underlying operating profit down 6% to £1.3bn, primarily from expected return of Gas Transmission allowances and US tax reform, partially offset by favourable legal settlements of £94m\n \n· Underlying EPS of 19.7p, up 1.2p, reflecting a lower tax rate and reduced share count\n \n· Statutory EPS (continuing) of 12.7p after exceptional charges: UK cost efficiency and restructuring programme £127m; Massachusetts Gas workforce contingency plan £97m\n \n· Interim dividend 16.08p/share, up 3.8% in line with policy\n \n· Capital investment £2.1bn, up 7%\n \n\n\n\n\n \n\n\n\n\nFinancial summary\nSix months ended 30 September - continuing operations (excluding Cadent)\n \n\n\n\n\n \n\n\n \n\n\nStatutory results\n\n\n \n\n\nUnderlying1\n\n\n \n\n\n\n\nUnaudited\n\n\n \n...