Electricity-to-telecoms group National Grid remained confident of meeting its targets despite falling into the red at the half-year stage.
Turnover in the six months to September 30 rose from £1.79 billion to £1.99 billion but failed to prevent pre-tax losses of £102.9 million.
Last year National Grid posted interim pre-tax profits of £307.3 million.
Chairman James Ross said the group as a whole was performing well and all businesses were on track to meet expectations for the year.
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