11th Apr 2019 07:59
LONDON (Alliance News) - National Grid PLC on Thursday said annual adjusted earnings per share is in line with the company's expectations, as lower finance costs offset higher US operating costs.
The FTSE 100-listed power grid operator said its US business incurred higher costs during the year, associated with a "significant" gas pipe replacement programme.
Furthermore, the costs of restoring service to Rhode Island customer following low gas supply in January and "increased minor storm costs" also affected National Grid's US unit.
Remediation costs associated with "major storms" are expected to hit headline earnings per share to the tune of 2 pence. These costs will be "recoverable" in the future, National Grid added.
National Grid will publish its annual results on May 16.
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