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

 


Vector Network News

Vector Network News

VECTOR HALF YEAR PROFIT

HIGHLIGHTS:

- 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

ELECTRICITY

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.

GAS TRANSMISSION AND DISTRIBUTION

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.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news