LONDON (dpa-AFX) - National Grid PLC (NG.L), an electricity and gas utility company, Thursday said it expects underlying earnings per share for the year ended March 31, 2024 to be in line with the prior year, at actual exchange rates.
In November last year, the UK government had made 'full expensing' tax relief for qualifying capital expenditure to be permanent. As a result of this, the company has decided to report underlying earnings and underlying EPS excluding the impact of deferred tax in UK Electricity Transmission and Distribution businesses, to provide more accurate underlying profitability, and to align with UK peers. This reporting change will lead to increase Underlying EPS for the full year by 8 pence per share, the company said in a statement.
Full-year results are scheduled to be reported on May 23.
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