National Grid PLC said it traded in line with expectations in its first half to September 30, 2022.
In a trading statement, the power company noted that its interims will include a full six-month contribution of National Grid Electricity Distribution, formerly Western Power Distribution, following completion of the acquisition on June 14, 2021. The results will also include a contribution from Rhode Island up until completion of sale on May 25 this year.
Underlying operating profit in UK Electricity Distribution is therefore expected to be more equally weighted half-on-half in the current year, with New England being less weighted to the second half than the prior year given the sale of Rhode Island, National Grid said.
Meanwhile, underlying EPS is expected to have a more marginal weighting to the second half than in previous years, it added.
The company said it will publish its half-year results on November 10, 2022.