National Grid - Interim Results Interview With CEO

LONDON, November 18, 2010 /PRNewswire-FirstCall/ -- National Grid today releases 2010 interim results, unveiling a 45% increase in profit before tax up to GBP938m. In a video interview with http://www.cantos.com CEO Steve Holliday discusses the results and reveals that the financial performance was backed up by a strong operational performance.

He explains how the cash raised in the recent GBP3.2bn rights issue is being used and maintains the company is on track with the GBP22bn investment programme over the coming five years.

Giving a thorough update on the main US regulatory filings, he says that he's satisfied with the deal reached in Massachusetts and discusses the imminent decision on Niagara Mohawk.

Looking forward Mr Holliday states the second half will conclude a good year for National Grid.

"What we've got to do is make sure that we deliver that capex on time on budget, which is exactly where we are focused. And make sure we continue to deliver all the outputs that people will measure us on. If we do that, this business will continue to thrive."

The interview and transcript are available now on http://www.cantos.com/company/National%20Grid.

Cantos.com, the online financial broadcaster, features in-depth interviews, documentaries and webcasts with senior company executives. If you would like to contact us, please email [email protected] or phone +44(0)207-936-1352.

SOURCE National Grid Plc