Lines company Vector's interim earnings for the six months to December 31 are down 1% to $310 million.However, lower debt levels and reduced interest rates contributed to the company's net profit after tax (NPAT) increasing 11.6% to 101 million, compared
Lines company Vector’s interim earnings for the six months to December 31 are down 1% to $310 million.
However, lower debt levels and reduced interest rates contributed to the company’s net profit after tax (NPAT) increasing 11.6% to 101 million, compared to $91 million for the prior comparable period.
Total revenue from continuing operations grew 1.8% to $621 million.
First half electricity revenue climbed 4.8% to reach $268 million. Ebitda was up 3.8% to $184 million.
Connections to Vector’s electricity networks grew by half a percent and volumes dipped by 2GHh, an improvement on the prior comparable period’s contraction of 42 GWh.
Gas transportation revenue rose by 5.4% on the first six months of last year to reach $103 million and ebitda increased by 5.3% to $86 million.
Vector’s wholesale gas division saw revenue drop by 3.3% to $216 million. Ebitda fell nearly 25% to $42 million.
The company suggested that the decline in ebita was due to margin loss from the wind-down of legacy gas contracts.
Natural has volumes were up 5.1%, gas liquids volume was down 16.9% and Liquigas volumes down 15.8% on the previous half year.
