Vector on track to achieve upper end of forecast

Electricity and gas distributor Vector says it is on track to achieve the upper end of analysts' full year forecasts for its earnings before interest, tax, depreciation and amortisation (ebitda).

The forecasts for the year to next June ranged between $591 million and $643 million, Vector said yesterday. That compares with $610m for the year to June 2007.

Following a review of its reporting programme, Vector will now adopt first and third quarters reporting.