BRIEF-Western Resources provides corporate update
* Engaged independent financing experts to help secure strategic partner who will provide funds Source text for Eikon: Further company coverage:
Nov 15 Britain's biggest energy distributor National Grid Plc reported a 21 percent rise in first-half profit and said restoration costs outside The Long Island Power Authority service area are not expected to be more than 100 million pounds ($158.5 million).
The company, which provides gas and electricity transmission and distribution services in the United Kingdom and the United States, said pretax profit from continuing operations for the six months ended Sept. 30 was 1.15 billion pounds ($1.82 billion), compared with 953 million pounds a year earlier.
National Grid contracts with The Long Island Power Authority (LIPA)to run the day-to-day operations of its electric utility business and has been in the news in the past few weeks after more than 90 percent of LIPA's 1.1 million customers lost power due to Superstorm Sandy.
* Q1 revenue rose 42 percent to $2.138 million Source text for Eikon: Further company coverage:
* Pricing of an underwritten public offering of 3.7 million shares of its common stock at a price to public of $13.25 per share Source text for Eikon: Further company coverage: