Chairman’s Statement
"I am pleased to report
that 2007/08 has produced yet another very strong set of results."
I am pleased to report that 2007/08 has produced yet another very strong set of results. A year characterised by our renewed focus on our core businesses of gas and electricity transmission and distribution networks in the US and UK, and the realignment of our operating model to reflect the similarities of our businesses. A key part of this focus was the acquisition of KeySpan, which completed in August 2007, resulting in around 50% of our business now being located in the US.
The Board is proposing a dividend increase for 2007/08 of
15%
We also targeting an increase of
8%
per annum from 2008/09 to 2011/12