Vector profit slides 44% on struggling HRV writedown

Thu, 22 Aug 2019

By Paul McBeth Aug. 23 (BusinessDesk) - Vector reported a 44 percent slide in annual profit as the lines company wrote down the value of its HRV home ventilation unit, which has failed to fire since it was bought in 2017. Operating earnings were in line with expectations and the electricity, gas, and telecommunications distribution company hiked its dividend payment. However, lingering regulatory uncertainty means it won't offer guidance for the 2020 financial year until November. The company still relies on its regulated distribution...

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