Results

Net profit after tax (NPAT) of $97.6 million is broadly in line with last year’s NPAT of $92.7 million. However this year includes a one-off gain of $16.4 million resulting from the sale of our legacy meter business. Underlying profit after tax (refer note A2 of the financial statements for a full definition) was $75.5 million or 26% below last year. Earnings Before Interest, Tax, Depreciation, Amortisation and Fair value movements in financial Instruments (EBITDAF) was $186.4 million or 16% below last year’s EBITDAF of $222.2 million.