Fletcher Energy, in the midst of a takeover battle involving oil giant Shell and a little known local consortium, this morning revealed a record result for the six months to December 31, 2000.
Energy made $308 million in the half-year, on the back of strong global oil and gas prices.
The result included a large chunk of unusual items - a $50 million gain on the sale of Capstone Turbines shares, a $25 million gain on the sale of NZ Refining shares, and a $161 million taxation benefit.
Without unusual items, Energy returned half-year earnings of $99 million, up 62 per cent on the previous corresponding period.
Strong oil and gas prices drive Fletcher Energy to record result
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