Vector ekes out 2.3 percent gain in FY profit as technology unit bolsters earnings

Wed, 21 Aug 2013

By Paul McBeth Aug. 22 (BusinessDesk) - Vector, the Auckland-based electricity, gas and telecommunications network operator, lifted net profit 2.3 percent, missing estimates, as its technology unit bolstered sagging earnings from traditional energy revenue streams. Net profit rose to $203.3 million, or 20.4 cents per share, in the 12 months ended June 30, from $198.8 million, or 20 cents, a year earlier, the company said in a statement. That was just short of First NZ Capital estimates of $207.9 million. Revenue rose 2.2 percent to $1.25 bi...

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