National Grid

National Grid has warned that it will take a £140 million hit to its profits this year from the cost of fixing storm damage in America. The company’s networks in Massachusetts, Rhode Island and New York were hit by storms Quinn, Riley and Skylar last month, causing damage that required additional staffing and materials to repair. The extra costs would be recovered in future periods but would knock 3p off its post-tax earnings per share this year, it said.

Times 13th April 2018 read more »