Horizon Energy Distribution Ltd has reported a net profit after tax of $5.9 million for the year ended March 31, up 14.6 percent from the $5.15m in the same period last year.The Whakatane-based electricity network provider is paying a nine cents per share
Horizon Energy Distribution Ltd has reported a net profit after tax of $5.9 million for the year ended March 31, up 14.6 percent from the $5.15m in the same period last year.
The Whakatane-based electricity network provider is paying a nine cents per share dividend on June 15, taking total dividends for the year to 17c. The total dividends for the year represent 72 percent of tax-paid profit.
Chairman Rob Tait said the company's electricity distribution network performed well during the year and without any adverse weather events.
Horizon is 77.29 owned by Eastern Bay Energy Trust and it saw off an offer from Marlborough Lines during the year.
