Auckland growth fuels Vector profit

Tue, 24 Aug 2021

Auckland electricity and gas network company Vector has reported higher earnings and profit, despite the regulated parts of its distribution business having its allowable revenue cut.For the financial year ending June 30, Vector recorded adjusted earnings before interest, tax depreciation and amortisation (ebidta) of $513.5 million.This was up $23.5m, or 4.8%, on last year’s result and is in line with guidance provided at the half-year result.Group net profit after tax was $194.6m, or $97.3m higher than the prior year’s result due t...

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