Electricity distributor and contractor Horizon Energy said its financial results would be hit by a $700,000 one-off write-down for the six months ended September 30.Recent falls in interest rates had hit the company's investments, Horizon said. In a
Electricity distributor and contractor Horizon Energy said its financial results would be hit by a $700,000 one-off write-down for the six months ended September 30.
Recent falls in interest rates had hit the company's investments, Horizon said. In addition, unbudgeted legal costs relating to Marlborough Lines Ltd's failed takeover offer last year would also affect the profit.
Excluding the one-off items, Horizon's underlying performance and profitability was in line with expectations.
