Part-sale of metering business gives Vector a $1.72b profit windfall

Part-sale of metering business gives Vector a $1.72b profit windfall
Most of the damage to Vector’s network was caused by vegetation. (Image: Vector)
Staff reporters
Vector reported a huge $1.72 billion net profit for the June 2023 financial year, thanks to a one-off windfall from the sale of half its metering business. In June, the lines and infrastructure group confirmed the sale of a 50% interest in Vector Metering to Australian investment manager QIC Private Capital  (QIC) for $1.51b.  It will use the sale proceeds to retire debt.Vector’s continuing operations delivered a net profit of $112.6m, exclusive of the metering business. Earnings before interest, tax, depreci...

More Markets

Stocks, oil slump as China retaliates and Trump digs in heels
Markets

Stocks, oil slump as China retaliates and Trump digs in heels

China fires retaliatory shots in trade war. 

AFP 11:30am
Gentrack leads NZ sharemarket down almost 1%
Markets Market Close

Gentrack leads NZ sharemarket down almost 1%

The S&P/NZX 50 Index closed at 12,225.28, down 113.29 points or 0.92%.

Graham Skellern 04 Apr 2025
Takeovers Panel will meet on NZME issue
Markets

Takeovers Panel will meet on NZME issue

The panel said in a media release today it had met on the issue of Grenon’s shareholding.

Staff reporters 04 Apr 2025