India, May 16 -- National Grid plc (NG.L, NGG) reported that its fiscal year statutory earnings declined from prior year due to exceptional charges: Massachusetts Gas; new efficiency programmes; cancellation of nuclear connection agreements. Underlying operating profit was down 2% to 3.4 billion pounds (4% at constant currency) reflecting expected return of Avonmouth allowances and US tax reform, partly offset by higher property profit and favourable US legal settlements.
Pretax profit, on a statutory basis, was 1.84 billion pounds for the year ended 31 March 2019 compared to 2.66 billion pounds, prior year. Statutory earnings per share from continuing operations was 44.1 pence compared to 102.1 pence. Underlying pretax profit declined to ...