Vector sells 50% stake in metering business

Vector has announced the sale of a 50% interest in Vector Metering, resulting in a one-off gain of $1,509.9 million.

The proceeds from the transaction will be used to repay debt as required under banking arrangements.

The company reported a net profit of $112.6 million from continuing operations, excluding the metering business.

A special dividend of 5.5 cents per share will be paid, bringing the final dividend to 14.0 cents per share.

The company's adjusted EBITDA was $523.3 million, including $335.1 million from continuing operations.

Capital expenditure for the year was $700.4 million, with $512.7 million allocated to continuing operations.

The company's financial results also include reports on climate-related financial disclosures and greenhouse gas emissions inventory.