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
Tough second-half hurts NZ Post and Kiwibank full-year earnings
Delegat to pay bigger dividend after posting record annual operating profit
NZME posts 0.5% gain in debut first-half earnings as costs fell faster than revenue
CBL first-half profit falls 19% currency losses offset growth in premiums
Air NZ rides the tourism boom with record full-year earnings
Vista first-half profit more than doubles as acquisitions lift revenue 49%
FIRST CUT: Sky TV FY earnings down 15%, citing merger costs and content 'arms race'
FIRST CUT: Air NZ delivers bumper pre-tax profit for 2016 FY of $663 mln
Living Cell Technologies considers 'medical tourism' if Parkinson's therapy trial succeeds
NZ dollar slips as markets await Yellen, although doubts remain for any major surprises