Northern Electric plc, together with its subsidiaries, distributes electricity in the United Kingdom. It provides engineering contracting services; and car finance services, as well as is involved in the property holding and management activities. The company was incorporated in 1989 and is based in Newcastle upon Tyne, the United Kingdom. Northern Electric plc is a subsidiary of Northern Powergrid Limited.
78 Grey Street
Newcastle Upon Tyne, NE1 6AF
Founded in 1989
Northern Electric plc Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2015
Aug 21 15
Northern Electric plc reported unaudited consolidated earnings results for the six months ended June 30, 2015. For the period, the company reported revenue of £200.6 million against £199.1 million a year ago, mainly due to the higher distribution revenues and smart metering rental income, partly offset by lower contracting volumes. Operating profit was £107.2 million against £106.4 million a year ago. Profit before tax was £90.0 million against £90.1 million a year ago. Profit from ordinary activities after tax was £70.7 million against £69.5 million a year ago. Net cash from operating activities was £83.3 million against £100.5 million a year ago. Purchase of property, plant and equipment was £148.0 million against £115.1 million a year ago. Purchase of intangible assets was £5.2 million against £5.0 million a year ago.
Northern Electric plc Announces Dividend on Preference Share for the Six Months to 30 September 2015, Payable on 30 September 2015
Aug 20 15
The board of Northern Electric plc announced that a dividend of 4.0305 pence (net) per Preference Share, relating to the six months to 30 September 2015 is payable on 30 September 2015 to holders of Preference Shares on the register as at 4 September 2015.
Northern Electric plc Announces Unaudited Consolidated Earnings Results for the Year Ended December 31, 2014
Apr 28 15
Northern Electric plc announced unaudited consolidated earnings results for the year ended December 31, 2014. For the year, the company reported revenue of £409,503,000 against £350,919,000 a year ago, higher than the prior year mainly due to the five-year profile of allowed revenues inherent in the DPCR5 price control formula and additional contracting volumes. Operating profit was £210,709,000 against £180,827,000 a year ago, reflecting increased revenues partly offset by a higher level of exit charges included in costs of sales, additional contracting volumes and increases in some operating costs such as salaries and maintenance. Profit before tax was £178,256,000 against £147,339,000 a year ago. Profit attributable to owners of the parent was £140,241,000 against £132,368,000 a year ago. Net cash from operating activities was £155,456,000 against £130,885,000 a year ago. Purchase of intangible fixed assets was £11,070,000 against £8,776,000 a year ago. Purchase of intangible assets was £216,760,000 against £199,392,000 a year ago. Higher profits were offset by adverse working capital movements.