Geothermal production drives record Eastland earnings, payout

Mon, 20 May 2019

By Gavin Evans May 20 (BusinessDesk) - Eastland Group has returned a record $12.1 million to its community shareholding trust, boosted by earnings from the firm’s new geothermal plant at Kawerau. The payout – comprising a $10 million dividend and $2.1 million of capital note interest – is up from $8 million and $2.1 million last year. The increased dividend was driven by the group’s record $20.1 million net profit for the year ended March 31, up from $17.6 million the year before. Revenue climbed to $97 million from $84.7 million. C...

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