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.