National Grid plc Issues Pre-Close Update

TL;DR

National Grid's HY 2024/25 results look on track, meeting financial targets.

AI Summary

National Grid plc issued a pre-close update on October 3, 2024, ahead of its HY 2024/25 results. The company provided an update on its performance and outlook, indicating it is on track to meet its financial targets for the full year. Specific financial figures for the interim period were not detailed in this announcement.

Why It Matters

This update provides investors with an early indication of the company's performance and financial health leading up to its interim results, potentially influencing investment decisions.

Risk Assessment

Risk Level: low — The filing is a routine pre-close update and does not contain significant new risks or material adverse information.

Key Players & Entities

• NATIONAL GRID PLC (company) — Filer
• 0001654954-24-012664 (filing_id) — Accession Number
• 03 October 2024 (date) — Filing Date

FAQ

Key Financial Figures

• $100 million — s, major storm costs (when greater than $100 million), timing and the impact on underlying r

Filing Documents

• a7328g.htm (6-K) — 38KB
• 0001654954-24-012664.txt ( ) — 39KB

From the Filing

UPDATE AHEAD OF HY 2024/25 RESULTS a7328g         UNITED STATES   SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549   _______________________________________________________   FORM 6-K _______________________________________________________     REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934   Date: 03 October 2024   Commission File Number: 001-14958   _______________________________________________________     NATIONAL GRID plc   (Translation of registrant’s name into English)   England and Wales   (Jurisdiction of Incorporation)  _______________________________________________________       1-3 Strand, London, WC2N 5EH, United Kingdom (Address of principal executive office)   _______________________________________________________     Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.   ☒   Form 20-F       ☐   Form 40-F   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):   ☐   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):   ☐   Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3- 2(b) under the Securities Exchange Act of 1934.   ☐   Yes     ☒   No   If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a               EXHIBIT INDEX   Exhibit No.   Description   99.1   Exhibit 99.1 Announcement sent to the London Stock Exchange on 03 October 2024   — Pre-Close Update ahead of HY 2024/25 Results       Exhibit 99.1       3 October 2024     National Grid plc   Pre-Close Update ahead of 2024/25 Half Year Results   National Grid today issues a pre-close update for the six months ended 30 September 2024 ahead of announcing half year results on 7 November. Overall, the group's performance is in line with our expectations and, as usual, underlying EPS is expected to be weighted to the second half of the year.   Contribution to operating profit is expected to be consistent with historical periods: ●            In UK Electricity Transmission and UK Electricity Distribution, we anticipate operating profit to be broadly evenly split across the year. We expect an additional c.£70 million contribution from the Electricity System Operator compared to guidance, reflecting ownership and held for sale accounting treatment up to 30 September 2024. ●            In our US regulated businesses, operating profits are expected to be weighted to the second half. This includes our New York business where operating profit weighting is expected to be more typical of historical trends than the same period last year (H1 of FY24 was impacted by an   environmental provision charge). ●            In NG Ventures we   anticipate a roughly 40:60 weighting for operating profit between the first and second half.   We expect a more even split of interest costs between the first and second half of the year and a weighted average number of shares for the first half of 4,526 million, taking into account the effect of the rights issue on net debt and our issued share capital.     Notes:   'Underlying' represents statutory results from continuing operations, but excluding exceptional items, remeasurements, major storm costs (when greater than $100 million), timing and the impact on underlying results of deferred tax in UK Electricity Transmission and UK Electricity Distribution.         Enquiries and   contacts     Investors and Analysts:   Angela Broad                                      +44 (0) 7825 351 918 Tom Edwards         &#x

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View this 6-K filing on SEC EDGAR