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NGG - National Grid sees £400M profit hit this year
National Grid Transco PLC PLC American Depositary Shares
National Grid (NGG-0.2%) reports a FY 2020 pretax profit of £1.75B, down from £1.84B in the prior fiscal year, and forecasts a coronavirus hit of £400M ($502M) to underlying earnings in FY 2021, citing higher bad debt and the deferral of rate increases in its U.S. business.
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