Canterbury lines company Orion NZ profit sinks 39%

Canterbury lines company Orion NZ profit sinks 39%
Orion NZ added 5,000 customers in the year. (Image: Orion NZ)
Staff reporters
Orion New Zealand reported a 39% slide in annual profit as the Canterbury lines company's expanding capital programme and growing debt coincided with inflation pressures driving up costs. Net profit fell to $21.6 million in the 12 months ended March 31 from $35.5m a year earlier, even as operating revenue rose 3.9% to $322.6m. The lines company's interest bill rose by almost a third to $16.4m with debt of $498m, up from $420m a year earlier, to help fund a capital expenditure programme forecast to increase 260% over the next 1...

More Energy

Govt gas users in the dark over continuing supply
Energy

Govt gas users in the dark over continuing supply

Gas supplies for users, including schools and hospitals, are getting tighter.

Ian Llewellyn 02 May 2025
Energy sector bands together to address confusion
Energy

Energy sector bands together to address confusion

Concerns over energy prices and security need to be addressed, says sector.

Ian Llewellyn 30 Apr 2025
Lines companies to get more power to remove trees
Energy

Lines companies to get more power to remove trees

Balancing the right to power with property rights is at the heart of the changes.

Ian Llewellyn 29 Apr 2025
TAG Oil sells more NZ assets
Energy

TAG Oil sells more NZ assets

TAG stopped operating in NZ in 2019.

John Anthony 24 Apr 2025