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National Grid‘s full year underlying operating profit fell 3% at constant currency to £3.3bn as higher costs offset higher revenues.
The pandemic reduced underlying operating profit by roughly £355m and cash flow by around £600m, compared to expectations of £400m and £1bn respectively.
The board has declared a final dividend of 32.16p per share, bringing the full year payment to 49.16p, up 1.2% year-on-year.
The shares rose 1.0% following the announcement.
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Full year results
UK Electricity Transmission saw underlying operating profit fall 4% to £1.1bn, reflecting flat net revenues after timing adjustments and higher costs. Management expects revenue to rise by around £140m next year, but for cost increases, including cybersecurity costs, to more than offset this….
