Vector maintenance costs offset revenue gains, profit down

Tue, 25 Feb 2020

Auckland energy and telecommunications infrastructure provider Vector reported a 3.4 percent fall in first-half profit to $80.5 million and is capping its dividend payments. The result for the six months to Dec. 31 was driven by higher depreciation and amortisation, partially offset by higher capital contributions and lower interest costs. The profit was achieved on total revenue for the half of $699.6 million, a 1.6 increase from the same period last year. Adjusted earnings before interest, tax, depreciation and amortisation, a...

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