May 16, 2019 / 6:21 AM / 4 days ago

National Grid full-year profit slumps on storm costs

May 16 (Reuters) - National Grid Plc, which runs Britain’s energy systems, on Thursday reported an 18% fall in its annual operating profit on costs related to storms in the United States.

The company said its operating profit for the 12 months ended March 31 fell to 2.87 billion pounds ($3.69 billion) from 3.49 billion pounds a year earlier.

However, on an underlying basis, operating profit was 2% lower. ($1 = 0.7788 pounds) (Reporting by Pushkala Aripaka and Muvija M in Bengaluru Editing by Tomasz Janowski and Shounak Dasgupta)

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