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National Grid on track to hit half-year forecasts
(Sharecast News) - Electricity distribution group National Grid said it expects half-year results for the six months to 30 September to be in line with expectations. The company, which powers the Midlands, South West and South Wales, said the "profile" of half-year operating profit should be more or less consistent with historical periods when it reports on 6 November. And, as usual, underlying earnings per share will be weighted to the second half.
In the UK Electricity Transmission and UK Electricity Distribution division, profits should be split evenly across the year, though results face a tough comparative with last year including the contribution from the Electricity System Operator before it was sold in October 2024.
In the US regulated businesses, profits will be weighted to the second half, though fewer storms in the New York business and new electricity distribution rates in New England should result in slightly higher contributions to profit from both units compared with last year.
Meanwhile, in National Grid Ventures division, the company expects a "roughly even weighting of profitability" across the year.
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