inoutupdown
01 Jun 2018
Re: XD Today Thanks I never thought about exdividend
Hydrogen Economy
31 May 2018
XD Today In case you were wondering about the drop, XD 30.44p, paid (rather tardily) on 15th AugH2
willlove
22 May 2018
Re: Found it The only interest to declare is that I only hold NG shares hence my limited use of the board. From looking at the NG site, the annual report won’t be published until later in the year at around the same time as the AGM which is why I got confused with the terminology. I can see you’re talking about the detailed notes to the recent results announcement. I completely agree revenue is vital to businesses but here the reason revenue isn’t a good metric to use to judge performance is that so much of what NG recovers is pretty much pass through either on commodity costs in the US, recovering the allowed revenues to be paid to the Scottish asset owners or things such as UK balancing costs. It’s not the same as Tesco saying sales have increased which would be a mark of genuine business performance. That’s all I was getting at, just trying to help shine some light on the results – the market seems to have judged them very well by the sh price mvmt.
Lupo di mare
22 May 2018
OFGEM "Ofgem has opened an investigation into National Grid's UK transmission business. The probe will examine whether the business has breached rules relating to its duty to operate the system in an economic and efficient manner, the regulator said. "This includes but is not limited to producing and publishing appropriate forecasts of demand," Ofgem added."From the beeb.Look forward to hearing NG's response.
PIE-EATER
18 May 2018
Re: The End Or if my experience is anything to go by....ANY board !
dregor
18 May 2018
Re: The End Marktime, if you really don't want to be mixing with 'irritants' make sure you never visit the BP board!
marktime1231
18 May 2018
The End Actually that will do for me on here, you are the latest in a long line of irritants on this board.MT out.
marktime1231
18 May 2018
Re: Found it On p49 of the annual report, did you not read my earlier post ... strange if not, from your posting history it seems you are only interested in NG, do you have an interest to declare?NG seem to have done everything to avoid reporting and discussing headline Revenue which is and always should be line 1 row 1 of every annual report. That is what headline means. The authors spend long enough talking about how much revenue is going to grow in the outlook sections, but don't actually report the reporting number until p 49. Utterly dreadul report. Be ashamed if you or someone nearby had anything to do with it, by all means spin PR messages to say what you want us to hear but don't try and hide the hard facts.To suggest it is a pointless metric is nonsense, pathetic remark, every business should be transparent on actual revenue and things like cash flow and debt, even if there are an endless series of adjustments, it is arrogant to say we cannot understand the hard numbers and allow for the adjustments.Why are you defending this garbage?
willlove
18 May 2018
Re: Found it p 49 of what? NG always report revenue every year in their accounts although its a very misleading figure as they recover other company costs in the UK and have fuel pass through costs in the US so looking at this number doesn't really help with any analysis
marktime1231
18 May 2018
Found it A table on p.49 gives revenue figures and comparables, the first time clear group summary figures are presented in the report. Disgraceful. The figures themselves not so bad if we believe the outlook that there is better growth to come.2018 £MRevenue £15,250Op costs £11,757Profit before tax £2,7082017Revenue £15,035Op costs £11,827Profit before tax £2,184I could not find a simple comparative summary balance sheet table which is an extraordinary thing for a major company report, shameful and I guess deliberate obfuscation cf the clarity and transparency for example of Whitbread or GSK reporting. On pp. 42-43 there are debt and cash flow tables, and on p. 16 they say"Net debt as at 31 March 2018 increased by £3.7billion to £23.0billion (2017: £19.3billion). The increase in net debt was driven by increased levels of capital investment and the return of over £4billion to shareholders relating to the proceeds from last year’s sale of UK Gas Distribution" So I wasn't making it up. In other circumstances and if that is the true reason I would be worried by ramping debt at nearly 20% except that presumably NG's growing debt cost is recoverable as part of the formula for setting regulated charges so it is revenue enhancing, and a big pile of debt means the CEGB's shareholders are less vulnerable to (the unlikely prospect of) renationalisation.In conclusion: performance 5/10 outlook 8/10 report 0/10 credibility ?/10
pitass
17 May 2018
buy Steady as it goes, this share is almost classed as a goverment bond I think the Corbyn efect has been over egged, and we should stick to the things that we know which in this case is National grid will be here in 2022 but will J CorbynFor me this share is a backbone of my pension fund and as so I will still use 20% of my available capital each year to increase my holding. After all the American income is increasing and here in britain there is lack of competition and in a recent edict the powers that be are threatehing to withdraw solar subsidies so lots of good news ahead
Hardboy
17 May 2018
Re: Results I think the share buy back is still part of the deal of using the funds from the sale of the Gas Distribution Business. They got a big chunk of cash, paid a special dividend and consolidated the shares, then set out on a buy back programme. The special dividend/share consolidation was a one off way of giving money to shareholders and reducing the number of shares. The share buy back is (erm) a way of giving money back tot he shareholders and reducing the number of shares. Why they didn't do it all at one time & just have a bigger consolidation special dividend. it would have been a lot simpler, and cheaper (actually the cheaper bit is probably wrong because the share price has been falling during the buy back so they will end up having less shares.)
marktime1231
17 May 2018
Re: Is good news on the way phew!
marktime1231
17 May 2018
Re: Results positive 5-6% outlook but interested in the details of where it is coming from ... US and Ventures and ...No wish to be negative on sucha good day, but ...Very difficult to read the report, I ran through it twice and gave up second time around because I couldn't find the clear financial statement whiuch starts with Revenue ... actually that key figure is notably absent? I will try reading the detail again later, maybe the offline report is an easier format.I did however read that debt had increased sharply, and the main reason was the cost of returning funds to shareholders eg buy backs. Er ... that sounds rather alarming when you dig into it, borrowing to pay dividends.
Uncle Doug
17 May 2018
Re: Results No brainer. Added some more this morning based on good results, profit rise and future prospects. Great divvy and part of it due in a couple of weeks. SP was £10 a year ago and these results are better than back then.
