22 Oct 2009

Contact Energy mum on profit forecasts

2:00 pm on 22 October 2009

Contact Energy is reticient about how profitable the year will be, saying it faces weaker energy demand, volatile weather, and transmission constraints.

At the company's annual meeting in Wellington on Thursday, chairman Grant King refused to provide any forecast of annual profits.

Analysts forecast a full year profit of about $179 million.

But Mr King warned the level of dividend payout depends on Contact restoring profitability to more normal levels.