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Investment
1 mins to read

Contact ‘solid’ in ‘soft’ market conditions

Gentailer declares flat final dividend as onerous contract weighs on bottom line.

Contact Energy chief executive Mike Fuge.

NBR Staff Mon, 14 Aug 2023

Electricity generator and retailer Contact Energy has reported a 30% fall in net profit for the year to June, driven by an $84 million provision for losses on its Ahuroa gas storage contract.

The bottom line for the year was $125m, down from $182m a year earlier.

Revenue fell 11% to $2.11 billion.

The

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NBR Staff Mon, 14 Aug 2023
Contact the Writer: editor@nbr.co.nz
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Contact ‘solid’ in ‘soft’ market conditions
Investment,
100347
true