AusNet profits fall by 52 per cent

Victorian energy company AusNet Services’ first-half statutory net profit has fallen by 52 per cent on its previous year’s result.

Net profit for the six months to September 30 was $178.6 million, down from $374.5 million a year earlier.

AusNet Services is Victoria’s largest energy delivery service business, owning and operating approximately $11 billion of electricity and gas distribution assets that connect into more than 1.3 million Victorian homes and businesses.

Overall, the energy company’s net profit was down 16.9 per cent.