Vector Group (NZX: VCT) today announced its result for the first half of the 2023 financial year.
Group net profit after tax was $100.3 million, and adjusted EBITDA was $274.0 million, up 3.9% from the prior year.
Total capital expenditure was $316.8 million, up 17.2%.
An interim dividend of 8.25 cents per share was declared, partially imputed at 10.5%.
The company also announced the conditional agreement with the Queensland Investment Corporation for the sale of its metering business, with completion expected in Q2 2023.
The board will consider the details of how proceeds from the sale will be used, however they are committed to reducing overall debt.
Vector and its customers were also impacted by the extreme weather events of the January floods and Cyclone Gabrielle.
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