Contact Energy profit soars to $276 million on back of asset sales

Company News

by Anna Napoli

New Zealand electricity generator, Contact Energy (ASX:CEN) has announced its statutory profit rose to $276 million for the six months ended December 31, up from $58 million a year earlier.

The stellar result came on the back of a $172 million gain from asset sales.

Its earnings (EBITDAF) increased by 28 per cent compared to the same time last year, to $278 million.

The company declared a dividend of 16 cents per share up 23 per cent on the prior corresponding period.

Shares in Contact Energy (ASX:CEN) closed 0.68 per cent higher to $5.89 on Friday.


 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.