November 14, 2019 / 7:47 AM / a month ago

UK's National Grid posts lower first-half profit

Nov 14 (Reuters) - National Grid, which is facing an investigation over a widespread power cut in Britain a few months ago, reported a drop in first-half earnings compared with last year, when it recorded a legal settlement income.

Profit before tax at the London-listed grid operator fell 23% to 404 million pounds ($516.96 million) for the six months ended Sept. 30. A year ago, it had received 94 million pounds in legal settlement income at its National Grid Ventures business.

$1 = 0.7815 pounds Reporting by Muvija M in Bengaluru

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