StockMarketWire.com - National Grid reported a 6% drop in first-half operating profit due to the impact of the US tax reform, storms in the US and the return of allowances it had received for its shelved Avonmouth pipeline project.

Its underlying operating profit fell 6% at constant currency to £1.285bn while its underlying pre-tax profit dropped 4% to £816m over the period.

Looking forward, Chief Executive John Pettigrew said that National Grid was "well positioned" for the ongoing energy transition and "on track" to achieve asset growth at the top end of its 5-7% range in the medium term.




At 8:43am: [LON:NG.] National Grid PLC share price was +7.8p at 846.3p



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