National Grid Posts Underlying Growth in FY17; Well Positioned
18 May 2017 - 5:04PM
Dow Jones News
By Razak Musah Baba
LONDON--National Grid PLC (NG.LN) said Thursday it is well
positioned for the future as it reported fiscal 2017 underlying
earnings growth.
The gas and electricity network operator's total adjusted pretax
profit rose 13% to 3.56 billion pounds ($4.59 billion) for the year
ended March 31. Revenue from continuing operations climbed 14% to
GBP15.04 billion.
"We made significant progress in the year, with the successful
completion of the U.K. Gas Distribution transaction, a good outcome
on the rate filings in the U.S. and a positive conclusion to
important regulatory reviews in the U.K.," Chief Executive John
Pettigrew said.
"National Grid is well positioned for the future with a
rebalanced, higher-growth portfolio," Mr. Pettigrew said.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
May 18, 2017 02:49 ET (06:49 GMT)
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