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Full Year 2019 National Grid PLC Earnings Call Transcript
Welcome to our full year results presentation and a special welcome also to everybody who's watching this online. As always, we're going to start with safety. There are no planned fire alarm tests this morning so if you hear an alarm, we do need to leave the building through these doors and then out from reception. And I would also like to draw your attention to the cautionary statement that's included in your packs. And as always, there will be a Q&A at the end of this presentation.
So with that, I'd like to hand over to John Pettigrew.
So thank you, Aarti, and good morning, everyone. I'm joined this morning by Andy Agg, our CFO. And as usual, Nicola Shaw and Dean Seavers are also here to assist with any questions at the end of the presentation.
So let me begin with the financial highlights from last year. On an underlying basis, that is excluding the impact of timing, major storms and exceptional items, operating profit of
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