National Grid on track

27th Jul 2009 07:14

Gas and electricity pipeline grid operator National Grid said it is on track to deliver a strong performance in 2009/10. The group added that it is also well positioned to deliver a year of strong performance which will continue to underpin its 8% dividend growth policy through to March 2012. "In particular we expect a substantial improvement in profitability in our Electricity Distribution and Generation business and continued good momentum in our Transmission business," said the group."We are in a sound financial position, we expect our effective interest rate to continue to fall in the current year and on 20 July 2009 Moody's reaffirmed our credit ratings and changed its outlook from negative to stable," it added.