Britain's National Grid H1 underlying profit falls on COVID-19 related costs

Nov 12 (Reuters) - National Grid Plc posted a 12% slide in half-year underlying profit due to coronavirus-related costs and bad debts in the United States, and maintained expectations of a 400 million pound hit this year from the pandemic.

The company, which operates a gas franchise in New York City and Long Island and runs Britain’s energy system, said underlying operating profit fell to 1.15 billion pounds ($1.52 billion) for the six months ended Sept. 30, from 1.30 billion pounds a year earlier. ($1 = 0.7579 pounds) (Reporting by Shanima A in Bengaluru; Editing by Ramakrishnan M.)


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