In a recent update ahead of its financial closure for the six months concluding on 30 September 2024, National Grid Plc, a leading British electricity and gas utility company, announced that its performance aligns with its forecasts. The company projects that the underlying earnings per share will be more heavily concentrated in the latter half of the fiscal year.
For its UK Electricity Transmission and UK Electricity Distribution sectors, National Grid anticipates that operating profit will be fairly evenly distributed throughout the year. The company also expects an additional £70 million contribution from the Electricity System Operator. This boost is attributed to the ownership and held-for-sale accounting treatment effective until 30 September 2024.
In its US regulated operations, the company forecasts that operating profits will be more pronounced in the second half of the year. Specifically, the New York business is expected to display a profit distribution more typical of its historical patterns, contrasting with the previous year's comparable period.
Lastly, National Grid Ventures predicts a 40:60 operating profit ratio between the first and second halves of the fiscal year.
