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.
Oz APA Reports Loss in H1
Feb 23, 2021 2:53:am
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by: Shardul Sharma
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Oz APA Reports Loss in H1
Australian gas infrastructure company APA on February 23 reported a net loss of A$11.7mn (US$9.2mn) in the six months to December 31 (H1) owing to a non-cash impairment of A$249mn recognised against the Orbost gas processing plant. It has reported a profit of A$175mn in the H1 of the previous year.
Profit after tax excluding significant item was down 7% year/year to A$163mn. APA’s revenue in H1 was A$1.07bn, down 0.6% yr/yr.
The company said it will work on expanding its capabilities into high-growth infrastructure markets by investing in contracted and regulated energy infrastructure in Australia and North America.
2020 CEO Survey: Rob Wheals, APA theaustralian.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theaustralian.com.au Daily Mail and Mail on Sunday newspapers.