Steve Holliday, Chief Executive, said: "We have started the year well, with a good underlying performance and steady progress toward our strategic goals."
The Interim dividend is increased 8% in line with the companies dividend policy
Steve Holliday added: "In the UK, we submitted comprehensive business plans for our Transmission businesses to Ofgem, incorporating the output of the significant stakeholder consultation which is critical to securing investment in this essential UK infrastructure. At the same time, we continued to invest in the engineering teams and processes to allow us to deliver the major step up in capital investment over the next few years.
In the US, we delivered our new operating model on time, significantly reducing headcount and embedding our new regional structure. I am confident that this new structure will improve customer service in our jurisdictions and underpin the continuing drive for efficiency in our US operations and the associated improvement in financial performance.
As a result, notwithstanding the exceptional US weather, we remain well positioned to deliver another good year, although comparative progress will be impacted by the timing differences that benefited 2010/11."
