Vector profits up, as it mulls climate change policy

Vector added 6,603 new electricity connections and 1,731 new gas connections. (Image: supplied)

Fri, 25 Feb 2022

Vector reported an increased profit for the six months to Dec 31 as it looks to the future impact of climate change policy on its business.The Auckland-based electricity lines and gas company reported group net profit after tax of $115.5 million for the first half of the financial year, which was $13.4m or 13.1% higher than the same period the year before.Adjusted earnings before interest, taxes, depreciation and amortisation (ebitda) were $263.6m. This was down $10.2m or 3.7% on last year’s result. It declared an interim dividend of 8.25...

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