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National Grid upbeat on year ahead
BRITAIN’S biggest utility company National Grid said it was positive on the outlook for the year and reported a 1.3 per cent rise in electricity transported in the first quarter.
The grid operator said, however, that gas volumes transported in Britain were down by 4.6 per cent in the first quarter due to the effects of the economic downturn and as customers focus on energy efficiency.
Analysts currently expect the group to report pre-tax profit for the year to the end of March of £2.2bn, up from £1.97bn, according to a poll by Thomson Reuters.
Chief executive Steve Holliday said: “We are well positioned to deliver another year of good performance, which will underpin our targeted 8 percent dividend growth policy to 2012.”