Vector first-half profit up 15%, gas trading challenging

Thu, 25 Feb 2016

By Pattrick Smellie Feb. 26 (BusinessDesk) - Auckland electricity and telecommunications infrastructure provider Vector reported a 16 percent lift in first-half profit to $100.1 million. The result reflected gains across its portfolio, with the exception of its gas trading division, which faces the prospect of a writedown in the second-half unless performance improves. The profit was achieved on total revenue for the half of $663 million, a 3.5 percent fall from the same period last year, driven by lower volumes of traded gas. Adjusted...

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