Pulse returns to FY profit on jump in sales, accounting adjustment

Thu, 14 Jun 2012

By Hannah Lynch June 14 (BusinessDesk) - Pulse Utilities, the electricity retailer that operates under the Just Energy brand, returned to profit as sales jumped more than 50 percent and the retailer recognised an adjustment to the value of electricity price derivatives. Profit was $163,000 in the 12 months ended March 31, compared to a loss of $7.5 million a year earlier, the company said in a statement. Sales jumped to $53.7 million from $22.6 million, reflecting a 48 percent gain in customers to 34,000. "This improvement is a result of e...

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