Vector posts 2.8% gain in full-year earnings as smart meters lead growth, sees further gain in 2016

Thu, 27 Aug 2015

By Jonathan Underhill Aug. 28 (BusinessDesk) - Vector, the Auckland gas and electricity distribution company, posted a 2.8 percent gain in pretax earnings, beating its guidance, as acquisitions helped drive growth in its smart metering business. It sees further gains in 2016. Adjusted earnings before interest, tax, depreciation and amortisation rose to $596.9 million in the 12 months ended June 30, from $580.7 million a year earlier and ahead of its February guidance of $588 million, the Auckland-based company said in a statement. Net pro...

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