National Grid PLC (LSE:NG.) said its financial performance for the past year to March was in line with guidance provided at its interims, on a constant currency basis.
At its half-year numbers in November, the power network operator's outlook pointed to a strong operational performance for underlying earnings per share, reflecting operating profit growth of around 10%, as well as reduced financing costs due to lower average net debt.
In a short pre-close update, the company said its final results next month will be followed on the same day by an investor event providing a "deep dive" on the delivery of its major capital projects in the UK and US.
The FTSE 100 group has a large portfolio of projects funded through regulator Ofgem's initiatives, including EQUINOX (Equitable Novel Flexibility Exchange), to help deal with the 'electricication of heat' as more households switch from gas boilers to heat pumps.
In the US, it is working on construction projects throughout its service areas in New York, Massachusetts and Rhode Island.
National Grid has also been slimming down its portfolio, having struck a deal in February to sell its Renewables US onshore business to Brookfield Asset Management for an enterprise value of $1.735 billion.