FIRST CUT: Vector earnings flat; technology growth disappointing - Stiassny

Thu, 23 Aug 2018

By Gavin Evans Aug. 24 (BusinessDesk) - Vector reported flat operating earnings for the year ended June, with growth in its smart meter business and a better performance in gas unable to offset higher costs in its electricity distribution arm. The country’s biggest electricity distributor said earnings before interest, tax, depreciation and amortisation fell to $470.1 million in the 12 months ended June 30, down 0.9 percent from $474.4 million a year earlier. Chair Mike Stiassny noted major storms in April added $4 million of maintenance...

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