Revenues down, earnings up at King Country Energy

Fri, 15 Jun 2012

By Pattrick Smellie June 15 (BusinessDesk) - King Country Energy's profitability improved, despite falling revenues, in the year to March 31, with results released today demonstrating the significance of its recent buy-out of the Mangahao hydro power station for its future growth. Majority-owned by Todd Energy, KCE announced a 20 percent lift in net profit to $5.3 million for the period, up from $4.4 million a year earlier, although total revenues at $32 million were down slightly as the company lost some commercial contracts and retail cust...

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