Industrial customer losses hit King Country Energy

Wed, 13 Nov 2013

Nov. 13 (BusinessDesk) – Electricity sector bit-player King Country Energy had a less buoyant first half than for the same period last year, with underlying earnings falling 5.8 percent after losing three “large industrial customers” and receiving lower average prices from the wholesale electricity spot market. Reported earnings before interest, tax, depreciation, amortisation and fair value movements on financial instruments (EBITDAF) were $7.8 million for the period, down 5.8 percent, in the six months to Sept 30. Statutory net profit after...

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