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.
No comments yet
BurgerFuel narrows 1H loss, plans to buy more franchised stores, expand into US
Stop calling KiwiSaver suspension a 'holiday', says Retirement Commissioner
NZ credit, debit card spending falls in November amid earthquake disruption
Ex-Auckland Transport staffer and supplier found guilty over $1M-plus bribes
NZ wool prices fall at weekly auction as supply exceeds expectations
Mercer sells 130.8M shares to fund acquisition, one-third sold to managers
NZ dollar rises to 18-month high vs euro after ECB extends asset purchases
While you were sleeping: ECB extends asset purchases
Chinese group sets out Airwork offer to shareholders
MARKET CLOSE: NZ shares gain, led by Tower, Orion Health, A2 Milk