Power generation company Pacific Energy has trimmed its full-year earnings guidance after reporting a lower than expected interim profit, but says a contract at the Tropicana gold mine will help it return to growth in 2016.
Power generator Pacific Energy says record earnings from its Kalgoorlie Power Systems business have driven a solid lift in profit for the half year ended December 31.
With expanding contracts for regional power supply through its subsidiary Kalgoorlie Power Systems, Pacific Energy achieved record earnings for the 2010-11 financial year.
Perth-based Pacific Energy says it will settle its $77 million acquisition of Kalgoorlie Power Systems in less than a fortnight after it received commitments for a $98 million funding package.
Perth-based Pacific Energy will pay $77 million in cash and scrip to acquire Kalgoorlie Power Systems, which owns a suite of power stations in Western Australia and the Northern Territory.
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