National Grid (NG.)

Sector:

Utilities

Index:

FTSE 100

1,044.60p
   
  • Change Today:
    -19.20p
  • 52 Week High: 1,067.40
  • 52 Week Low: 778.00
  • Currency: UK Pounds
  • Shares Issued: 3,508.27m
  • Volume: 6,216,850
  • Market Cap: £36,647m

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 1,044.60p
Change Today -19.20p
% Change -1.80 %
52 Week High 1,067.40
52 Week Low 778.00
Volume 6,216,850
Shares Issued 3,508.27m
Market Cap £36,647m

National Grid Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
47.62% above the market average47.62% above the market average47.62% above the market average47.62% above the market average47.62% above the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend
74.27% above the market average74.27% above the market average74.27% above the market average74.27% above the market average74.27% above the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average
Income
44.04% above the market average44.04% above the market average44.04% above the market average44.04% above the market average44.04% above the market average
Sector averageSector averageSector averageSector averageSector average
Growth
75.65% below the market average75.65% below the market average75.65% below the market average75.65% below the market average75.65% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average

What The Brokers Say

Strong Buy 8
Buy 2
Neutral 6
Sell 1
Strong Sell 0
Total 17
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
  Interim Final
Ex-Div 28-Nov-19 30-May-19
Paid 15-Jan-20 14-Aug-19
Amount 16.57p 31.26p

Trades for 24-Feb-2020

Time Volume / Share Price
16:39 6,191 @ 1,044.60p
16:35 2,511,845 @ 1,044.60p
16:29 269 @ 1,044.40p
16:29 7 @ 1,044.20p
16:29 100 @ 1,044.60p

National Grid Key Personnel

Chair Peter Gershon
CEO John Pettigrew
CFO Andrew Agg

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