The UK utility reported underlying EPS of 78.0p for the year, supported by £11.6 billion in capital investment and 10.9% asset growth.
National Grid posted a full-year underlying earnings per share of 78.0p, up 8% at constant currency, despite a 3.8% year-on-year decline in revenue to £17.69 billion. The company attributed the earnings growth to strong operating performance and record capital investment of £11.6 billion.
Capital expenditure for the year reached £11.6 billion, driving a 10.9% increase in asset growth, compared with £9.8 billion and 9.0% growth projected for 2024/25. The revenue decline was partly offset by higher investment returns and operational efficiency.
The results reflect ongoing infrastructure expansion amid regulatory and market challenges, with no immediate market reaction disclosed in the release.