Contact says its return on investment is low

Contact executives remember fondly the days they had to spill water from dams. (Image: NZME)

Tue, 20 Aug 2024

Contact Energy’s annual results show that one person’s excessive profit is another’s failure to make a good return on investment.On Monday, Contact reported a net profit of $235 million for the 12 months to June 30, up from the previous year’s $211m.Sensitivities about profit were obvious in the company’s analysts' call, with executives balancing the need to show they were making a good return for shareholders but also not profiteering and making the investment needed for new generation.Contact’s chief ex...

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