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Business Description: SP AusNet (SPN) is engaged in the diversified energy infrastructure business in Australia. SPN operates Victoria's primary electricity transmission network and electricity distribution network in eastern Victoria plus a gas distribution network in western Victoria. SPN has four main divisions, including Electricity Distribution, Gas Distribution, Electricity Transmission and Select Solution.
Strategy Analysis: SPN's strategy is to invest in energy networks in Australia and New Zealand and also position itself to participate future acquisition opportunities of publicly-listed, privately-held or government owned energy network businesses. Near term focus is on the improvement of existing networks through capacity upgrades, network efficiencies and customer growth.
SP AusNet reported NPAT up 15.6% to $169.0m for the half-year ended 30 September 2012. Revenues from ordinary activities were $884.5m, up 6.5% from the same period last year. The company achieved an EBITDA for the period of $525.0m, an increase of $32.0m or 6.5% over the previous corresponding period. This has been achieved as a result of higher revenues earned across all businesses. Basic and Diluted EPS was 1.52 cents compared to 1.47 cents last year. Net operating cash flow was $290.6m compared to $251.5m last year. The interim dividend declared was 4.1 cents compared with 4.0 cents last year.
The Age 21/05/2013 |
Optus says its 4G mobile network will reach 70 per cent of the Australian population by mid-2014. The carrier revealed it has upgraded 4000 3G sites to 4G in five capital cities and in Coffs Harbour, the Gold Coast and Byron Bay. It also plans to make its 4G network suitable for customers with dual-band 4G mobile devices.
The Age 21/05/2013 |
Hong Kong private equity firm Quantum Pacific Capital says it is best placed to resolve a dispute over the ownership of a troubled $5 billion copper and gold project in Java and is negotiating to grab back as much as 80 per cent of the project on behalf of former owner Intrepid Mines.
The Age 21/05/2013 |
Shareholders in Transfield Services were bracing themselves on Monday for an earnings downgrade following downgrades by other mine services operators such as UGL, WorleyParsons and the smaller Coffey International last week.
The Age 21/05/2013 |
The whole retail recovery story has wandered perilously off script over the past quarter. The start of the year held the promise of green shoots at the discretionary spending end. But as we near the close of the financial year, the fragile recovery appears to have been nipped in the bud.
The Age 21/05/2013 |
New Leighton Holdings chairman Bob Humphris has moved to dispel fears that its directors remain at war with its German parent Hochtief, insisting the relationship was "collegiate" despite the abrupt resignation of three fellow directors two months ago.
The Age 21/05/2013 |
Australian shares flirted with five-year highs on Monday, returning to levels not seen since the onset of the global financial crisis, as investors were spurred on by signs of strength in the US economy.
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