15 Dec 2011

$22m profit reported by Pulse

7:34 am on 15 December 2011

Pulse Utilities has made a profit of $22 million in the half year, a turnaround compared to the loss it made the same period last year.

The company says revenue rose 250% to $27.5 million, reflecting a larger customer base.

Before fair value movements in electricity price hedges, Pulse made a loss of $1.3 million, compared with a loss of $2.4 million the same period last year.