City Of London
National Grid Sees Profits Above Guidance as Inflation Rises
- U.K. power business saw higher profits than expected
- Britain has faced a surge in energy prices in the past year
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National Grid Plc expects its full-year earnings to be higher than guidance issued late last year as inflation drives profits in its U.K. business.
The company’s British electricity transmission and distribution units saw higher profits than expected in the year through March 2022, the company said in a statement ahead of its full earnings announcement on May 19.