LONDON (dpa-AFX) - National Grid PLC (NNGF.DE, NG.L, NGG), a British electricity and gas utility company, said on Monday that it anticipates to report annual earnings per share growth slightly ahead of the company's previous profit growth guidance of 13% to 15%. This revised guidance reflects a strong first-half performance of the Group's National Grid Ventures & Other business.
For the first half, National Grid Ventures & Other activities are expected to deliver around £130 million of additional performance, reflecting significant one-off fair value gains after two successful capital market transactions within the NG Partners investment portfolio and stronger performance in the Group's interconnectors business.
As usual, underlying full-year earnings per share are projected to be weighted to the second half of the year, the company noted.
For the 12-month period to March 31, the Group had recorded net earnings of 65.5 pence per share.
National Grid will release its first-half results on November 5.
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