UK’s National Grid posts 14% rise in first-half underlying profit

(Reuters) – Britain’s National Grid posted 14% increase in first-half underlying profit on Thursday, helped by higher UK electricity transmission revenue and better rates at its New York businesses.

The company, which runs Britain’s energy systems and operates electricity and gas business in New York and Massachusetts, posted an underlying operating profit of 2.05 billion pounds ($2.65 billion) for the six months ended Sept. 30, above last year’s 1.8 billion pounds.

($1 = 0.7732 pounds)