National Grid Statutory Profit Jumps 55% on Higher Revenue

National Grid reported a sharp increase in first-half earnings on November 5, 2026, with statutory operating profit rising 55% to £2.359 billion. This growth was driven by higher regulated revenue, which reached £8.138 billion for the period. Underlying operating profit increased 13% to £2.591 billion, while underlying earnings per share grew 22% to 36.5 pence.

To support network growth in Britain and the Northeast United States, the company accelerated capital investment by 33% to £6.707 billion. This expansion contributed to a £4.4 billion increase in net debt, bringing the total to £48.6 billion. In response to the financial performance, the company raised its interim dividend by 4% to 16.97 pence.

Management forecasts total investment of approximately £13.5 billion for the full year and expects underlying earnings per share to grow between 15% and 16% for 2026/27. Following the announcement, shares rose 2.17% as investors balanced the company's aggressive expansion against its rising financing costs.