National Grid plc (NGG, NG.L), a company engaged in the transmission and distribution of electricity and gas, said its profit before tax for the year rose to 2.92 billion pounds from 2.56 billion pounds a year ago, on a statutory basis.
Operating profit rose 6 percent to 3.75 billion pounds. Operating profit rose 4 percent before currency movements, timing and major US storms.
Profit for the year totaled 2.29 billion pounds, slightly higher than last year's profit of 2.04 billion pounds. On a per share basis, earnings rose to 62.3 pence from 55.4 pence.
Annual revenues amounted to 14.36 billion pounds, compared with 13.83 billion pounds for the last year.
The group said its Board has recommended an increase in the final dividend to 26.36 pence per ordinary share, in line with its one year policy of targeting 4 percent growth in the year 2012/13.
Commenting on the outlook for 2013/14, Steve Holliday, Chief Executive, said, " Overall, we expect to deliver another year of good operating performance and dividend growth."
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