SP AusNet Ltd
(ASX:SPN) has increased its net profit 22.6 per cent to $166 million in the first half of the current financial year.
In the six months to 30 September, the electricity and gas provider also posted a 10.1 per cent rise in revenue and an 8.1 per cent lift in EBITDA.
The company says the strong result was achieved through higher revenues from incentive scheme payments.
This was because of improvements in network reliability, extra revenues from the Advanced Metering Infrastructure program, higher volumes due to cooler weather conditions, increased activity associated with Select Solutions and a lower income tax expense.
SP AusNet has also announced an interim dividend of four cents per share, 39.8 per cent franked.
SP AusNet booked a profit of $209 million in six months to the 31 March 2010.
