Underlying revenue growth underpins Vector profit

Wed, 22 Aug 2012

By Pattrick Smellie Aug. 23 (BusinessDesk) - Auckland-based utilities network owner Vector has reported flat topline earnings after tax of $198.8 million for the year to June 30, down 1.3 percent on the 2011 financial year. But when the impact of a $53 million one-off lease payment from Transpower for access to Vector's Hobson St tunnel the previous year is netted out, underlying revenues were up 5 percent and the underlying net profit increase was 16.1 percent, from $171.3 million the year before. The strongest growth was in the company's t...

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