LONDON (UK) – National Grid Plc posted a 12% slide in half-year underlying profit because of coronavirus-related costs and bad debts in the United States. However, it continued to have expectations of a 400 million pound hit this year from the pandemic.
The company, which operates a gas franchise in New York City and Long Island and runs Britain’s energy system, said underlying operating profit fell to 1.15 billion pounds ($1.52 billion) for the six months ended Sept. 30, which was 1.30 billion pounds a year earlier.