National Grid (NG.)

Sector:

Utilities

Index:

FTSE 100

871.00p
   
  • Change Today:
      21.00p
  • 52 Week High: 1,067.40p
  • 52 Week Low: 799.70p
  • Currency: UK Pounds
  • Shares Issued: 3,510.17m
  • Volume: 8,972,295
  • Market Cap: £30,574m

National Grid profits fall as US turnover stumbles

By Duncan Ferris

Date: Thursday 14 Nov 2019

LONDON (ShareCast) - (Sharecast News) - National Grid reported a drop in interim profits on Thursday, after a decline in US revenue, although the company remained confident of continued outperformance from its UK business.
The energy transmission and distribution firm booked a statutory profit before tax of £404m for the six month period ended 30 September - a drop of 23% compared to the same period last year, after revenue edged 1% lower to £6.29bn.

National Grid proposed an interim dividend of 16.57p per share, 3% higher than last year's.

That slight reduction in turnover was driven by a 4% drop in sales from the FTSE 100-listed company's US operations to £3.89bn, leading operating profit from the other side of the Atlantic to fall by 41% to £259m.

UK revenue climbed 5% to £2.40bn, with a strong performance from the UK electricity transmission segment driving operating profit up by 9% to £829m.

Capital investment, including £209m relating to its acquisition of renewables specialist Geronimo, increased 28% to £2.72bn due to costs related to the development and maintenance of gas and electricity infrastructure.

The company said it expected a good full year performance from its US business following the agreement of a number of regulatory filings, while its operations in the UK business remained on track to deliver continued outperformance.

Meanwhile, National Grid also announced plans to target net zero emissions by 2050, which it claimed would be supported by offers of energy efficiency programmes for its US customers, renewable natural gas proposals and hydrogen-blending programmes.

Chief executive John Pettigrew said the company had made good progress on its strategic priorities and will now focus on develop its objectives across the group, including addressing gas supply constraints currently being faced in downstate New York.

National Grid shares were up by 0.24% at 893.80p at 0805 GMT.

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National Grid Market Data

Currency UK Pounds
Share Price 871.00p
Change Today 21.00p
% Change 2.47 %
52 Week High 1,067.40p
52 Week Low 799.70p
Volume 8,972,295
Shares Issued 3,510.17m
Market Cap £30,574m

National Grid Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.95% above the market average51.95% above the market average51.95% above the market average51.95% above the market average51.95% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Price Trend
53.19% above the market average53.19% above the market average53.19% above the market average53.19% above the market average53.19% above the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Income
74.67% above the market average74.67% above the market average74.67% above the market average74.67% above the market average74.67% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Growth
91.96% below the market average91.96% below the market average91.96% below the market average91.96% below the market average91.96% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 8
Buy 2
Neutral 5
Sell 1
Strong Sell 0
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

National Grid Dividends

  Latest Previous
  Final Interim
Ex-Div 02-Jul-20 28-Nov-19
Paid 19-Aug-20 15-Jan-20
Amount 32.00p 16.57p

Trades for 10-Jul-2020

Time Volume / Share Price
16:37 58,700 @ 871.00p
16:36 4,800 @ 871.00p
16:36 1,800 @ 871.00p
16:36 3,900 @ 871.00p
16:35 2,100 @ 871.00p

National Grid Key Personnel

Chair Peter Gershon
CEO John Pettigrew
CFO Andrew Agg

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