National Grid cancels publication of interims following FCA ruling

National Grid said it has ceased publication of its first and third quarter results after the UK regulator removed a rule that required companies to release interim statements.

The company said it will continue to provide updates covering market and company developments along with its half year and full year results. However, the group will cancel publication of interims that were due for release in January and July.

"National Grid is a very long term business, investing in sustainable assets and capabilities that are designed to deliver high standards of service to our customers and, in turn, earn low risk returns over several decades,” said finance director Andrew Bonfield.

“Our shareholders benefit by the company delivering healthy dividends and asset growth, and mandatory requirements to publish information can frequently provide an unnecessary focus on matters of little relevance to a long term business."

In November the Financial Conduct Authority removed the Transparency Directive’s requirement to publish interims.