SP AusNet: Interim result

Today SP AusNet reported interim results with underlying revenue increasing 9% over the previous half-year to $961m. Net profit fell 41% to $98m after the company lost an appeal against the Australian Taxation Office over amended tax assessments, costing the company $87m. The board declared a 33% franked interim distribution of 4.18 cents (ex date 18 Nov). The full year total is expected to increase 2% to 8.36 cents for a yield of 6.7%. Electricity and gas volumes fell 3.9% and 7.4% respectively due to unusually warm weather and the continued take up of solar. However, underlying earnings before...

Today SP AusNet reported interim results with underlying revenue increasing 9% over the previous half-year to $961m. Net profit fell 41% to $98m after the company lost an appeal against the Australian Taxation Office over amended tax assessments, costing the company $87m.

The board declared a 33% franked interim distribution of 4.18 cents (ex date 18 Nov). The full year total is expected to increase 2% to 8.36 cents for a yield of 6.7%.

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