National Grid profit jumps 45pc

National Grid's pre-tax profit has jumped by 45 per cent to £938m in the first six months of the year.

The operator of the UK's electricity and gas networks said the figures represented a bounce back after failing to recover last year.

Chief executive Steve Holliday said: "We expect to deliver strong operational and financial performance this year. We have made real progress on our priorities for 2101/11."