After months of drip drip deterioration, its nice to see a notable rise in National Grid shares following full year results.
After adjusting for the Ofgem driven change, which saw a £13bn sale and the establishment of Cadent, formerly (National Grid Gas Distribution), the company, National Grid, reported (https://uk.webfg.com/news/news-and-announcements/national-grid-posts-decent-full-year-performance-after-cadent-split--3298600.html):
- mid single digit percentage increases to profits (headline eps of 59.5p, +5%),
- a better than targeted performance from US operations
- medium term growth in the range 5-7%
No rush to upgrade National Grid yet though, particularly with an ongoing political threat to renationalise, but perhaps the company's recent underperformance has turned a corner.
The company has been a mainstay in my portfolio since I started charting its performance some 9 years since and delivered returns to the tune of 84% in share price gains and a further 90% in dividends/returns of capital, making 174% in total.
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