April 12, 2017 / 7:48 AM / 7 months ago

National Grid sees higher full-year earnings

(Reuters) - Gas and electricity distributor National Grid Plc (NG.L) said it expected full-year earnings per share to be 5 pence more than previously estimated due to “higher favourable timing” in both its UK and U.S. businesses.

“The over-recoveries primarily relate to out-turn electricity and gas volumes being different to anticipated volumes (e.g. due to weather),” the company said, adding U.S. over-recoveries benefited from mandated state level collections.

Timing has no impact on long-term performance and the gains would be returned to shareholders in the future, National Grid added.

Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Sunil Nair

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