National Grid performs in line with H1 expectations
Utilities firm National Grid said on Monday that it had continued to perform in line with expectations ahead of the release of its first-half results on 18 November.
National Grid stated that with the acquisition of Western Power Distribution completing on 14 June, its contribution would now be included for the first time.
The FTSE 100-listed group stated its UK gas transmission business was now being held as a discontinued operation, with the proposed sale of a majority stake set to be completed within the next twelve months, while the group's UK electricity transmission wing now expects depreciation to increase by around £50.0m in the full year.
National Grid added that its US-regulated operations would continue to include a contribution from Rhode Island, with the closure of the project's sale to PPL expected to take place by the end of the financial year.
Net finance costs were expected to be weighted more towards the second half of the year as a result of non-treasury interest benefits in the first half, while interim underlying earnings per share were expected to see "a marginally greater weighting" versus prior years.
As of 0845 BST, National Grid shares were up 0.69% at 903.40p.