APA (ASX:APA) share price on watch with HY21 report, upgrades distribution guidance

APA (ASX:APA) share price on watch with HY21 report, upgrades distribution guidance
Tristan Harrison | February 23, 2021 9:32am |
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APA FY21 half-year highlights
APA announced that its half-year revenue fell by 0.6% to $1.07 billion. It reported that there was strong volume growth in Western Australia, the Northern Territory and sectors of the east coast grid offset by softer contract renewals and lower energy consumption in Victoria.
The business said that it made a loss after tax of $11.7 million including significant items. This includes a non-cash impairment recognised against the Orbost Gas Processing Plant of $174.5 million.
Net profit after tax (NPAT) excluding significant items was down 7% to $163 million. Operating cash flow was up 1.4% to $519 million due to favourable working capital movements.

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