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Home / Business

Speculation mounts as Contact reports

9 Nov, 2003 07:59 AM2 mins to read

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By PAUL PANCKHURST

One of the country's largest listed companies, Contact Energy, reports its annual result this week amid speculation on whether 51 per cent owner Edison Mission is planning to exit.

Analysts' forecasts for bottomline profit for the year for Contact range from $100 million to $121 million, with a mean
of $111.5 million.

Last year, the company came in at $107 million.

It is the first full-year result since the purchase of the Taranaki power station from NGC and also takes in the dry autumn when New Zealand's thermal power generators faced heightened demand.

A fresh round of speculation over an Edison exit has been sparked by a December deadline for debt repayments in the United States.

Fisher & Paykel Healthcare reports a six-month result tomorrow and sister company Fisher & Paykel Appliances - up 50 per cent in share price this year - reports its six-month result on Wednesday.

The company has steered the market to expect a flat result on increased revenue.

One analyst's forecast is for a $35.8 million bottomline profit.

Analysts are keen to learn more about the fit of department store Farmers' finance and credit card business, bought for $189 million in a deal that was settled last week.

It is being merged with the existing Fisher & Paykel Finance business.

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