National Grid Says H1 Performance In Line With View; Sees H2 Weighting For Underlying EPS

(RTTNews) - British electricity and gas utility company National Grid Plc (NG.L, NGG), in its pre-close update for the six months ended 30 September 2024, said that the group's performance is in line with its expectations and, underlying earnings per share is expected to be weighted to the second half of the year.

In UK Electricity Transmission and UK Electricity Distribution, the company anticipates operating profit to be broadly evenly split across the year. It expects an additional 70 million pounds contribution from the Electricity System Operator compared to guidance, reflecting ownership and held for sale accounting treatment up to 30 September 2024.

In US regulated businesses, operating profits are expected to be weighted to the second half. This includes New York business where operating profit weighting is expected to be more typical of historical trends than the same period last year.

In NG Ventures the company anticipates a roughly 40:60 weighting for operating profit between the first and second half.