Contact Energy's Hydro Assets Lift 1H Profit; Shares Fairly Valued
Narrow-moat-rated Contact Energy had a strong first-half fiscal 2019 with underlying EBITDA up 28% to NZD 278 million, underlying NPAT more than doubling to NZD 97 million, and interim dividends up 23% to NZD 16 cents per share. Dividend guidance has been increased to NZD 39 cents per share for the full year, from NZD 35 cents per share, based on a new dividend policy of paying out 100% of operating free cash flow. We increase our fiscal 2019 EBITDA forecast by 1% to NZD 544 million, including t...Contact Energy sell electricity, gas and liquefied petroleum gas (LPG) products and services to residential, small business, commercial and industrial customers. Co. has two operating segments: Integrated Energy, which is a generator of electricity and a purchaser and retailer of electricity and natural gas to customers throughout New Zealand; as well as Other, which consists of other products and services provided by Co., which includes the sale of LPG.
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