About Us  |   Advertise  |   Contact Us  |   Terms & Conditions  |   RSS Feeds
 
Support our sponsors:
sharemarket

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
Comment:
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

While you were sleeping: US housing recovers
Power companies face ban on
Cavalier and NZ Wool Services to merge wool scouring businesses
Hellaby expects to complete at least one acquisition this year
Airwork sees annual profit growth of 48%, expects 1H to beat prospectus
Fletcher Building ups earnings through trebling house builds, trialling social housing
Fletcher aims to triple pace of home building in NZ as demand grows, Adamson says
NZ, South Korea free-trade agreement looks imminent
Fletcher Building sees FY earnings $650M-$690M on second-half rebound
ASX-listed Empired buys Intergen for A$17.4 mln in cash and shares

 
Previous News
Bond
Bond
News Alerts
Breaking News 
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 2014 MoneyOnline Ltd & Investment Research Group Ltd. All Rights Reserved.