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National Grid reports fall in H1 profit
November 9, 2017 / 7:41 AM / a month ago

National Grid reports fall in H1 profit

Nov 9 (Reuters) - British power grid operator National Grid Plc reported a slightly worse-than-expected fall in half-year profit on Thursday hurt by weakness in its UK electricity transmission business.

Adjusted operating profit fell 12.8 percent to 1.26 billion pounds ($1.66 billion) for the six months to Sept. 30.

That was below the 1.29 billion forecast in a poll of 7 analysts.

The company, which maintained its full year outlook, said it expects capital investment to rise to over 4 billion pounds after a first-half outlay of 2 billion pounds, up 7 percent from a year earlier or 4 percent at constant currency rates.

$1 = 0.7607 pounds Reporting by Arathy S Nair in Bengaluru; editing by Jason Neely

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