Pulse Energy halts trading in shares pending announcement

Pulse Energy halts trading in shares pending announcement

By Fiona Rotherham

Sept. 8 (BusinessDesk) - Pulse Energy, the small-scale electricity retailer, has called a halt to trading of its shares on the NZAX small cap board pending an announcement this morning.

The Auckland-based company, which is controlled by lines company Buller Electricity, reported a $2.9 million loss in the year ended March 31, from $2.8 million the year before. There was a turnaround in the second half of the year to a $1.7 million ebitdaf (earnings before interest, tax, depreciation, amortisation, and changes in the value of financial instruments) profit and the company said it expected to be profitable at the ebitdaf line in the 2016 financial year.

The result included a 27 percent increase in revenue to $101.8 million, compared with $74.1 million the previous year and customer numbers grew by 7,317 to $54,761.

The company, started in 2004, is one of 24 on the NZX’s alternative market which will be eventually closed in favour of the new NXT market.

Its annual general meeting is due to be held at the end of next week.

(BusinessDesk)

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