Vector 1H result up 10.8 percent in flat economy

Vector 1H result up 10.8 percent in flat economy
By Pattrick Smellie Feb. 21 (BusinessDesk) – Vector, the Auckland-based electricity, gas and telecommunications network operator, turned in a 10.8 percent improvement in tax-paid profit for the six months to Dec. 31, earning $118 million, but expects a tougher second half as mandated price cuts take effect. Vector chairman Michael Stiassny cast the result as evidence that Vector is capable of improved performance despite a flat economy, reduced load growth on its Auckland networks owing to warm weather and cost-conscious consumers, and its on...