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National Grid Electricity Transmission Annual Report and Accounts 2006/07 23
Non-regulated businesses
and corporate activities
About other activities
Our Non-regulated business together with corporate activities,
are reported within other activities. They include contracting
activities, provision of support services to other National Grid
businesses and corporate overheads that are not borne by
individual businesses.
Performance during the year
Financial results
The results for other activities for the years ended 31 March
2007 and 2006 were as follows:
Years ended 31 March
2007
2006
£m
£m
Revenue 14
31
Operating costs excluding
exceptional items and remeasurements (24)
(29)
Adjusted operating (loss)/profit (10)
2
Exceptional items -
-
Total operating (loss)/profit (10)
2
The principal movements between 2005/06 and 2006/07 can be
summarised as follows:
Revenue
Operating
costs
Operating
profit
£m
£m
£m
2005/06 results 31
(29)
2
Add back 2005/06 exceptional items -
-
-
2005/06 adjusted results 31
(29)
2
Other (17)
5
(12)
2006/07 adjusted results 14
(24)
(10)
2006/07 exceptional items -
-
-
2006/07 results 14
(24)
(10)
Revenue for other activities has fallen by £17 million from
2005/06 to 2006/07. With a reduction of £5 million in operating
costs before exceptional items and remeasurements, this has
resulted in a £12 million reduction in adjusted operating profit
compared to 2005/06.
Discontinued operations
About discontinued operations
Discontinued businesses comprise the results of our French
Interconnector operations, which were transferred to a fellow
subsidiary of National Grid plc on 14 August 2006.
Performance during the year
Financial performance
Years ended 31 March
2007
2006
£m
£m
Revenue 27
77
Operating costs excluding
exceptional items and remeasurements (4)
(14)
Adjusted operating profit 23
63
Exceptional items -
-
Total operating profit 23
63
The lower operating profit in 2006/07 compared to 2005/06
reflects that 2006/07 only includes operating results for the
period to 14 August 2006.