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National Grid 6-month Pre-tax Profit Down 33% - Quick Facts

National Grid PLC (NG.L,NGG) reported profit before tax of 522 million pounds for the six months ended 30 September 2018, down 33 percent from 780 million pounds in the same period last year.

Profit to equity shareholders of the parent fell to 431 million pounds from 676 million pounds in the previous-year period. Earnings per share declined to 12.7 pence from 19.0 pence last year.

Headline profit before tax was 733 million pounds, compared to 737 million pounds in the prior year. Headline earnings per share were 17.8 pence, compared to 16.6 pence a year ago.

Revenue for the year declined to 6.35 billion pounds from 6.68 billion pounds in the prior year.

The company said its board of directors has approved an interim dividend of 16.08 pence per share, to be paid on 9 January 2019 to shareholders on the register as at 23 November 2018.

Looking ahead, National Grid said it sees strong growth prospects across the Group. The company noted that there are a wide range of growth drivers for the US, UK and NGV businesses, which are expected to deliver high quality asset growth of at least 7 percent for the next two years, and at the top end of the company's 5 percent to 7 percent range in the medium term.

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