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BRIEF-National Grid says headline FY results to show higher favourable timing in UK,U.S. businesses
April 12, 2017 / 6:40 AM / 5 months ago

BRIEF-National Grid says headline FY results to show higher favourable timing in UK,U.S. businesses

April 12 (Reuters) - National Grid Plc:

* Update on timing impacts for fiscal year 2016/17

* Updates its 2016/17 technical guidance for timing impacts ahead of entering closed period on 18 april 2017.

* Group expects headline full-year results to reflect higher favourable timing in both its uk and us businesses

* Over-Recoveries primarily relate to out-turn electricity and gas volumes being different to anticipated volumes (e.g. Due to weather)

* Additionally, us over-recoveries also benefit from mandated state level collections.

* Net benefit to earnings per share in 2016/17 from timing is now expected to be approximately 5p higher than previously estimated

* Timing has no impact on long-term performance and this incremental benefit will be returned to customers in future years. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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