SP AusNet (ASX:SPN) has increased its first half net profit by 15.6 percent to $169 million.
In the six months to the end of September, the energy company posted pre tax earnings of $525 million, a 6.5 per cent increase on the previous corresponding period.
The earnings increases result from higher earnings across all of SP AusNet’s businesses as well as higher electricity prices and increased gas volumes.
The figures have been achieved despite higher operating costs arising from vegetation management, maintenance and service payments stemming from storm activities during the period.
There was also a $6.7 million lift in management company fees due mainly to increased performance fees.
Sp AusNet reported net profit of $255 million in the 2012 financial year.
