Contact reports increased earnings and profit

Contact reports increased earnings and profit
Contact has been running its thermal generation hard. (Image: NZME)
Ian Llewellyn
Contact Energy reported a net profit of $235 million for the 12 months to June 30, up from the previous year’s $211m.Operating earnings (ebitdaf) of $675m were up 16% to $663m.The earning figures include a $12 m onerous contract provision relating to the Ahuroa Gas Storage facility ($5m within net profit after tax and interest). Excluding the movement in the provision, underlying net profit was up 9% on FY23 to $230m.One-off write-offs of $36m hit net profit after tax relating to damage to peaker assets, remediation work re...

More Markets

a2 Milk's share price drops 11% on weak outlook
Primary Sector

a2 Milk's share price drops 11% on weak outlook

It is "very pleased" to have resolved its dispute with Synlait.

SkyCity increases debt, writes down value of Adelaide casino
Markets

SkyCity increases debt, writes down value of Adelaide casino

Entertainment company SkyCity’s full year finances this week will include a non-cash impairment of $94.3 million related to its troubled Adelaide casino and new debt totalling $465m.The writedown related to more legal and compliance costs associated with its Australian casino and...

Freightways reports 5.8% hit to net profit
Markets

Freightways reports 5.8% hit to net profit

The logistics company saw existing customer activity decline in 2024.