NZ Windfarms reports smaller first-half loss as electricity sales jumped, making up for lower than average wind flows.

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Vodafone New Zealand’s annual profit fell by 7.2% to $178 million for the year ending March 31, its annual results revealed today in a Companies Office filing for the year to March 31, 2009.

For the first time in eight years Vodafone has suffered a profit drop. Its consolidated net profit for 2008 was $191.5 million. This year its consolidated and company net profits come in at $177.7 million.

Revenue rose from $1.5 billion in 2008 to $1.6 billion in 2009, with profit before tax coming in at $260.8 million up from $242.8 million in 2008.

Transpower might be under pressure to upgrade energy capacity to meet a rising demand for power, but that hasn’t prevented the grid operator from posting a 27% rise in profit.

The owner of the national electricity grid saw its transmission revenue rise from $289.7 million to $310.7 million for the last six months of 2008.

The larger revenue take saw Transpower’s operating surplus after tax for the half year rise to $67.5 million, compared to $53.3 million the previous year.

Operating revenue for the six months of the year rose 7% per cent to $338.4 million.