Monday 13th August 2018
|Text too small?|
Contact Energy, the country’s second-largest gas and power retailer, says full-year profit fell 13 percent as low hydro storage increased its energy costs and tough competition kept pressure on retail margins.
Net profit fell to $132 million in the year ended June 30, from $151 million a year earlier. Earnings before interest, tax, depreciation and changes in financial instruments fell to $481 million, down 4 percent from a revised $501 million a year earlier.
Underlying profit, which excludes changes in financial instruments, fell to $130 million, down 9 percent from $142 million a year earlier. Prior year earnings were restated to reflect a change in accounting standards.
The company will pay a second-half dividend of 19 cents per share on Sept. 18, taking the full-year payout to 32 cents, up from 26 cents last year.
The shares last traded at $5.76, having increased 3.6 percent so far this year.
No comments yet
Buying off the plans driving down KiwiBuild cost to govt: HYEFU
Fiscal policy to slow growth over next five years, despite surpluses
Treasury forecasting annual wage growth above 3% over next five years
Robertson unveils first ‘wellbeing outlook’ ahead of 2019 Budget
NZSA throws its weight behind Vital’s rebel investors
Food prices ease in November: buy your strawberries now!
Transport strikes averted as TIL Logistics, Air NZ find common ground with unions
Restaurant Brands 3rd-qtr sales rise 4.7% as Australia, Hawaii grow
December 13th Morning Report
Meridian chair Moller to stand down next year, Verbiest to take over