FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the period December 2003 to 1 April 2004
Transco plc
1-3 Strand
London WC2N 5EH
ENGLAND
(Address of principal executive offices)
The registrant files annual reports under cover of Form 20-F. By furnishing the information contained in this Form the registrant is
not also furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
Transco plc
s/David C. Forward
Date: 1 April 2004 By: __________________
(David C. Forward)
Authorised Signatory
ANNEX 1 - Copy Announcements as sent
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
The Securities Exchange Act of 1934
Announcements to the London Stock Exchange
for the period December 2003 to 1 April 2004
Transco plc
1-3 Strand
London
WC2N 5EH
United Kingdom
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Announcements:
1 December 2003 - "Euro Medium Term Note Programme"
8 December 2003 - "Euro Medium Term Note Programme"
1 April 2004 - "National Grid Transco plc - Close period trading update for the year ended 31 March 2004."
(Close period trading update of the Group's Ultimate Holding Company, National Grid Transco plc (NGT), which NGT has separately
submitted on its own Form 6K of today's date.)
1 April 2004
National Grid Transco
Close period trading update for the year ended 31 March 2004
Strong Profit and Earnings Growth
National Grid Transco plc (the "Group") is today issuing its trading update on the commencement of its close period and prior to the
announcement of its preliminary results on Thursday, 20 May 2004.
The Group's financial performance for the year ended 31 March 2004 has been particularly strong, and we expect that earnings per share
(excluding exceptional items and goodwill amortisation) will be substantially ahead of last year and in line with expectations.
We expect that operating profit (excluding exceptional items and goodwill amortisation) for the year will be ahead of the level
delivered last year, despite increased pension costs, a weaker US dollar and a return to more normal US weather conditions. This has
been achieved primarily by the delivery of significant efficiency and integration savings and regulatory timing differences. We are
also benefiting from improved performance at Gridcom and our exit from non-core businesses last year.
Furthermore, a combination of lower effective interest rates and a weaker US dollar is expected to lead to a reduction in interest
costs and contribute to strong growth in profit before tax (excluding exceptional items and goodwill amortisation).
The effective tax rate on profit before tax (excluding exceptional items and goodwill amortisation) is anticipated to be around 25%.
Net debt at 31 March 2004 is reduced to around 13bn pound sterling.
Cautionary statement
This announcement contains certain statements that are neither reported financial results nor other historical information. These
statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. Because these forward-looking statements are subject to assumptions, risks and
uncertainties, actual future results may differ materially from those expressed in or implied by such statements. Many of these
assumptions, risks and uncertainties relate to factors that are beyond National Grid Transco's ability to control or estimate
precisely, such as delays in obtaining or adverse conditions contained in regulatory approvals, competition and industry restructuring,
changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in energy market prices, changes in
historical weather patterns, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines,
technological developments, the failure to retain key management, the availability of new acquisition opportunities or the timing and
success of future acquisition opportunities. Other factors that could cause actual results to differ materially from those described in
this announcement include the ability to the ability to integrate Niagara Mohawk and Lattice Group plc successfully within National
Grid Transco or to realise synergies from such integrations, the failure for any reason to achieve reductions in costs or to achieve
operational efficiencies, unseasonable weather impacting on demand for electricity and gas, the behaviour of UK electricity market
participants on system balancing, the timing of amendments in prices to shippers in the UK gas market, the performance of National Grid
Transco's pension schemes and the regulatory treatment of pension costs, the impact of any potential separation and disposal by
National Grid Transco of any UK gas distribution network(s) and any adverse consequences arising from outages on or otherwise effecting
energy networks owned and/or operated by National Grid Transco. For a more detailed description of these assumptions, risks and
uncertainties, together with any other risk factors, please see National Grid Transco's filings with the United States Securities and
Exchange Commission (and in particular the "Risk Factors" and "Operating and Financial Review" sections in its most recent annual
report on 20F). Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the
date of this announcement. National Grid Transco does not undertake any obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after the date of this announcement.
Contacts
Investors
Marcy Reed +44 (0)20 7004 3170 +44 (0)7768 490807(m)
Terry McCormick +44 (0)20 7004 3171 +44 (0)7768 045139(m)
Louise Clamp +44 (0)20 7004 3172 +44 (0)7768 555641(m)
Bob Seega (US) +1 508 389 2598
Media
Clive Hawkins +44 (0)20 7004 3147 +44 (0)7836 357173(m)
Citigate Dewe Rogerson +44 (0)20 7638 9571
Anthony Carlisle +44 (0)7973 611888(m)
Transco plc
EURO MEDIUM TERM NOTE PROGRAMME
Transco plc announces that it has today issued a Eur 70,000,000 Floating Rate Instrument due 01 June 2005 Series No 36,
as part of the Transco plc EUR 7,000,000,000 Euro Medium Term Note Programme.
01 December 2003
Contact: Andrew Kluth (Tel: 020 7004 3365)
Date: 8 December 2003
Transco plc
EURO MEDIUM TERM NOTE PROGRAMME
Transco plc announces that it has today issued a JPY 2,000,000,000 Floating Rate Instrument due 09 June 2005 Series No
37, as part of the Transco plc EUR 7,000,000,000 Euro Medium Term Note Programme.
Contact: Andrew Kluth (Tel: 020 7004 3365)
