Contact Energy's first-half 72% profit surge

Mon, 14 Feb 2022

Contact Energy reported a 72% increase in net profit after tax for the six months to Dec 31 of $134 million, citing “double-digit growth in our operating earnings and profit off the back of a period of strong hydro generation”.Operating earnings increased by $76m to $322m, up 31%, although operating free cash flow for the period decreased from $157m to $131m, down 17%.“While operating free cash flow is lower year-on-year, this is a feature of our generation asset mix,” said chief executive Mike Fuge in a statement to the...

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