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National grid8/2/2023 ![]() ![]() ![]() “However, ensuring security of supply and affordability, while delivering net zero goals, can only be achieved with clear and stable regulatory frameworks that incentivise the timely delivery of the investment required. John Pettigrew, chief executive, said: “We have achieved £225mln of operating cost efficiency savings to date, and this is enabling us to mitigate some inflationary pressures on both the business and our customers.” Underlying EPS for continuing operations of 32.4p was up from 22.8p in the prior period which included higher interest costs relating to the UK Electricity Distribution acquisition.Īn interim dividend of 17.84p was paid while National Grid said it had delivered a further £85mln of group efficiency savings during the half year in addition to the £140mln savings reported in May. ![]() Other factors supporting growth were a first-half contribution from North Sea Link, IFA1 insurance receipts and a stronger US dollar. In the six months to 30 September 2022, the company reported a 50% jump in operating profits to £2.1bn, boosted by a full six months' contribution from UK Electricity Distribution and higher property sales. The FTSE 100 company now expects EPS growth from 2021/22 to 2022/23 in the middle of a new 6%-8% compound average growth rate (CAGR) range, up from 5%-7% before, capital investment of £40bn (up from £30bn-£35bn before) and asset growth of 8%-10% (up from 6%-8%). National Grid PLC (LSE:NG.) raised its EPS guidance for 2022/23 and increased investment plans as it unveiled half-year results today. ![]()
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