Genesis Energy produces tidy first-half result, NPAT up 85 percent

Mon, 25 Feb 2013

Feb. 26 (BusinessDesk) - Genesis Energy has turned in a tidy-looking result for the six months to Dec 31, with net profit after tax up 85 percent to $71 million as the company benefits from lower interest and depreciation costs, and low wholesale electricity purchase prices. Lower priced electricity and weak consumer demand meant total revenue for the period fell 7 percent to $1.03 billion, but total operating expenses fell more, down 9 percent to $835 million. That produced a 3 percent improvement in the raw operating measure of earnings bef...

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