National Grid profit falls 82% as dividend rises

LONDON (MarketWatch) — U.K. electricity network operator National Grid said Thursday that it’s six-month net profit fell 82% to 425 million pounds ($635 million) after large one-off gains a year earlier, while revenue for the period rose 43% to 6.07 billion pounds. Operating profit excluding exceptional items was up around 1% at 1.08 billion pounds as costs also rose strongly. The group raised its dividend by 8% to 12.64 pence a share and said its outlook for the current year remains positive, with higher second-half profits for its non-regulated businesses offsetting timing issues in its electricity distribution and generation operations.
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Original post by Forextvblog

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