About Us  |   Advertise  |   Contact Us  |   Terms & Conditions  |   RSS Feeds
Open account with Equity Investment Advisers

Warm weather chills profit

Friday 24th November 2000

Text too small?

Electricity generator Contact Energy blamed the wet and warm winter for cutting into its profit result for the year to September.

Contact said the mild winter had depressed demand for electricity and its price, taking its profit down 38% to $96.9 million from last year's $155.4 million. Heavy rainfall during winter meant storage levels on South Island lakes were above average, putting downward pressure on wholesale electricity markets. The prospectus forecast was for a profit of $78 million.

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.
Bookmark and Share   Printable version
Related News

MARKET CLOSE: NZ shares rise on a2 bounceback; Tower, Genesis attract investors
NZ dollar largely unchanged this week as investors eye up central bank reviews
Scentre Group agrees to sell three Westfield malls to NZ firms for $549 million
Pulse Energy investors get mixed messages on board's takeover view
Court protection sought for late-comers to James Hardie leaky homes class action
Collins Foods
Beef, pig and deer farmers to face stream-fencing requirements
Fonterra says farmer loan support package will cost $390 million
Bath Street Capital files counter-claim against Pyne Gould Corp
Silver Fern Farms paid former CEO Keith Cooper more than $1.8M in 2015

Previous News
News Alerts
Breaking News (Up to 10 Emails a day) 
After the Bell (Daily) 
Gold News 

Unsubscribe/Update »

RSS feeds »
Twitter »
Facebook »

Most Commented On
  forex centre
cfd centre
options centre
NZX 15 Index

© Copyright 2015 MoneyOnline Ltd & Investment Research Group Ltd. All Rights Reserved.