Genesis doubles FY profit

Company News

Genesis Energy Limited (ASX:GNE) has more than doubled its net profit in the full year to 30 June.
 
The company has reported a net profit of $104.8 million, a 113 per cent increase on last year’s figure of $49.2 million.
 
Earnings per share increased to 10.5 cents from 4.9 cents in the previous corresponding period. 
 
The energy provider says it’s pleased with the result given a number of challenging conditions including weather, sustained retail competition and the falling oil price.
 
Genesis will pay a final dividend of 8 cents per share, bringing the total dividend for FY15 to 16 cents.