By Michael Susin

National Grid said performance for the first half has been in line with expectations and that profit will reflect historic periods more than a year ago.

The U.K. electricity-transmission network operator on Thursday said underlying earnings per share will be more weighted to the second half.

The company said that operating profit for the six months ended Sept. 30 is expected to be more reflective of historic periods than in the same period of fiscal 2023.

Regarding the U.K. businesses, contributions to operating profit are expected to be broadly evenly split across the year. As for the U.S. regulated businesses, National Grid expects it to be more heavily weighted toward the second half.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

October 05, 2023 02:37 ET (06:37 GMT)

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