24 March 2005
The chief operator of the UK's gas and electricity network National Grid Transco will meet its annual forecasts, a spokesperson has insisted.
Fears had arisen surrounding the influence of a weakened US dollar that could have reduced earnings by around £20 million.
However a statement reveals that the energy group is confident that underlying profits will be ahead of last year's results.
"The group continues to trade in line with expectations, with both underlying profit before tax and underlying earnings expected to be ahead of last year," confirmed a statement from National Grid.
"This is despite the year-on-year impact of the weaker dollar, which is expected to amount to around £20 million at the earnings level."
The firm has also announced plans to return around £2 billion pounds to its shareholders in the near future.
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