National Grid has increased its earnings per share guidance for the full-year, following a strong first half performance in its Ventures and Other division.

The electricity distributor said in its pre-close update for the six months to 30 September that this division is expected to deliver £130m of additional performance to its expectations.

This reflects "significant one-off fair value gains" following two successful capital market transactions within its NG Partners investment portfolio and a stronger performance in its interconnectors business.

The firm added that its half-year operating profit is expected to be in line with the prior years, as its Electricity Transmission and Distribution divisions’ operating profit to be broadly evenly split across the year.

Furthermore, in its US regulated businesses, operating profits are expected to be weighted to the second half, in line with the “usual seasonality”.

As a result of this performance, National Grid now expects its full-year earnings per share growth guidance is set to be above its previous 13% to 15% target. This is also set to be weighted to the second half of the year.

Its net debt is also expected to be broadly in line with its guidance for the full year.

Following the update, shares in National Grid increased marginally by 0.22%.

The firm will announce its full-year results on 5 November.

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