22 Jun 2011

Contact shares fall on lower earnings news

3:22 pm on 22 June 2011

Contact's share price has fallen nearly 3% after saying its second-half-year earnings results will probably miss analysts' estimates.

In a presentation to investors, the energy generator and retailer says the lower earnings are due to low wholesale electricity prices and low demand following the Christchurch earthquakes.

Contact shares fell 16 cents to $5.59 on Tuesday.