National Grid Fiscal Year Pretax Profit Down 3% - Quick Facts

(RTTNews) - National Grid PLC (NG.L, NGG) reported profit before tax of 2.93 billion pounds for the year ended 31 March 2017, down 3 percent from 3.03 billion pounds last year.

However, profit to equity shareholders of the parent from continuing operations surged to 7.80 billion pounds from 2.59 billion pounds in the previous year. This includes a gain on disposal of UK Gas Distribution of 5.32 billion pounds.

Earnings per share for the year surged to 207.1 pence from 68.7 pence last year, and include a gain on disposal of UK Gas Distribution of 141.4 pence per share.

Profit before tax from continuing operations declined 6 percent to 2.18 billion pounds from 2.33 billion pounds last year.

Adjusted profit before tax for the year was 3.56 billion pounds, compared to 3.14 billion pounds in the prior year. Adjusted earnings per share were 73.0 pence, compared to 63.2 pence a year ago.

Revenue for the year rose to 15.04 billion pounds from a re-presented 13.21 billion pounds in the prior year.

The Board of National Grid has recommended an increase in the final dividend to 29.10 pence per ordinary share. If approved, this will bring the full year dividend to 44.27 pence per ordinary share, an increase of 2.1 percent over the prior fiscal year.