Tilt Renewables reported a 1% fall in operating profit to $A124million ($NZ134million) for the year ended March but will pay a final unfranked dividend of A2.25c a share.
The financial results for 2017 were a result of seven months’ operations under Trustpower and five months under Tilt after their demerger.
The company reported revenue of $A174.5million for the period, up 8%.
Its reported profit fell 44% to $A16.4million and its earning per share fell by the same percentage to 5.2c. Net cash from operating activities of $A122million was delivered in the period.
Development plans had been expanded with the acquisition and signing of landholder options for early stage solar projects in central Queensland.
The 54MW Salt Creek wind farm project, in Victoria, was well advanced and targeted to achieve a final investment decision by June 30.
