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National Grid Earnings Seen In Line With Expectations Despite US Costs

LONDON (Alliance News) - National Grid PLC on Thursday said annual adjusted earnings per share is ...

Alliance News 11 April, 2019 | 7:59AM
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LONDON (Alliance News) - National Grid PLC on Thursday said annual adjusted earnings per share is in line with the company's expectations, as lower finance costs offset higher US operating costs.

The FTSE 100-listed power grid operator said its US business incurred higher costs during the year, associated with a "significant" gas pipe replacement programme.

Furthermore, the costs of restoring service to Rhode Island customer following low gas supply in January and "increased minor storm costs" also affected National Grid's US unit.

Remediation costs associated with "major storms" are expected to hit headline earnings per share to the tune of 2 pence. These costs will be "recoverable" in the future, National Grid added.

National Grid will publish its annual results on May 16.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
National Grid PLC 851.50 GBX 0.04

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