National Grid Backs Positive Outlook For FY14 - Quick Facts

(RTTNews) - National Grid PLC (NG.L, NGG), a UK-based electricity and gas utility, Thursday reconfirmed its positive outlook for 2013/14, noting that it is well positioned to deliver another year of good operating performance and sustainable dividend growth.

In its interim management statement for the period from October 1, 2013 to January 29, the company said it has delivered good network performance for customers despite adverse winter weather conditions in both the UK and US.

In the UK, recent investment in flood defences for critical sites over the past few years has helped to minimise any cost or reliability impact on National Grid's operations from recent bad weather.

In the US, there has been some extremely cold weather in recent weeks along with an ice storm in upstate New York and Massachusetts in December.

Chief Executive Steve Holliday said, "Our businesses made further progress through to the end of January toward achieving our priorities for the year. ... Our networks performed well, demonstrating strong resilience during some difficult weather conditions in both the US and UK. I believe that this shows the benefits of our investment in process development and infrastructure and the continued dedication of our front line colleagues."