Profit boost for Contact Energy
Contact Energy has posted a half-year net profit of $112 million, up 27 per cent from the same period last year, despite tight competition in the market.
The result was boosted by higher than normal hydro inflows, avoiding the need to run expensive thermal generation.
Shareholders will receive an unchanged interim dividend of 11 cents per share, which represents 83 per cent of Contact's underlying earnings after tax.
More to come