The Company highlights
We have had another year of strong financial performance. Cash generated from operations was more than £3.5 billion, revenue was more than £15.6 billion, while adjusted operating profit and adjusted earnings per share were higher by 12% and 6% respectively.
- Revenue * £15,624m 2007/08: £11,423m
+37% - Cash generated from operations * £3,564m 2007/08: £3,265m
+9% - Ordinary dividends 35.64p 2007/08: 33.00p
+8% - Adjusted operating profits * † + £2,915m 2007/08: £2,595m
+12% - Adjusted earnings per share * † + 50.9p 2007/08: 47.8p
+6% - Capital expenditure £3,242m 2007/08: £3,054m
+6% - Operating profit * £2,623m 2007/08: £2,964m
-12% - Earnings per share * 37.4p 2007/08: 60.3p
-38% - Return on equity † +
(three year average) 10.8% 2007/08: 11.8%
- New debt issuances During the year, despite adverse conditions in the credit markets, we issued £4.9 billion of new long-term debt.
- Climate change During 2009/10, we will implement carbon budgets setting a maximum level of greenhouse gas emissions per business per financial year. We are targetting a 45% reduction in emissions by 2020 on the way to our goal of an 80% reduction by 2050.
- BITC platinum member We continue to enjoy external recognition of our responsible business approach. For the seventh consecutive year we are a ‘platinum’ company in the Business in the Community corporate responsibility index.
- Employee survey response rate 91.8% 2007/08: 86.4%
- Employee engagement index 70% 2007/08: 60%
- Lost time injury frequency rate ^ 0.25 2007/08: 0.30
- Percentage of ethnic minority employees 13.2% 2007/08: 12.3%
- Percentage of female employees 22.6% 2007/08: 22.5%
- For more information visit: www.nationalgrid.com
- +
- National Grid uses adjusted profit measures as key financial indicators to assess our business performance. See under financial performance for further information about these measures
- *
- for continuing operations
- †
- excludes the impact of exceptional items, remeasurements and stranded cost recoveries
- ^
- on a like-for-like basis, including KeySpan employees in both years
For more information visit: www.nationalgrid.com