Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Vector Network News

Vector Network News



- Revenue rises 5.0% to reach $669.4 million; energy demand subdued.

- Net profit rises 10.8% to $118.0 million as costs contained and growth in technology operation continues.

- EBITDA[1] rises 3.9% to $336.3 million.

- Interim dividend rises 0.25 cents to 7.25 cents per share.

New Zealand’s leading integrated energy infrastructure company, Vector Limited has announced an improved result for the six months to 31 December, despite the soft economy, as we benefited from growth across most of our businesses, continuation of legacy pricing on our Kapuni gas entitlements and a tight control on costs.

The Board has resolved to pay a fully-imputed interim dividend of 7.25 cents per share for the year, up from last year’s 7.0 cents per share interim dividend.

NETWORK SUMMARY for week ending 24 February 2013


Our electrical response crews attended five car v poles during the week; one turned out to be a car v car. Crews also attended a car v pillar in Otara, where they replaced the pillar and restored power to the area.

The very hot weather continued with the result that there were a number of fires across Auckland during the week. Crews attended six house fires, two pillar fires and one suspected transformer fire in Shelley Park that was actually a grass fire behind the cabinet.

There were also three cases of lines down (one caused by a small yacht at a road crossing), the others caused by car v poles. Crews repaired the damage and restored the power.


There were six third party strikes on our network last week including a factory that was evacuated in Onehunga. Repairs were made and safe reading allowed people to enter the building again.

Please take care around our gas network and call 0508 B4 U WORK (248 967) or 0800 B4 U DIG if outside Auckland.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Solid Energy: Plan To Shut Unprofitable Huntly East Mine

Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. More>>


E Tū: Merger Creates NZ's Biggest Private Sector Union

E tū has been created by the merger of the Engineering, Printing and Manufacturing Union and Service and Food Workers’ Union. It represents more than 50,000 working New Zealanders in industries as diverse as aviation, construction, journalism, food manufacturing, mining and cleaning. More>>


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Scouring: Cavalier Merger Would Extract 'Monopoly Rents' - Godfrey Hirst

A merger of Cavalier Wool Holdings and New Zealand Wool Services International's two wool scouring operations would create a monopoly, says carpet maker Godfrey Hirst. The Commerce Commission on Friday released its second draft determination on the merger, maintaining its view that the public benefits would outweigh the loss of competition. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news