News: One-off charges hit AusNet Services FY profit

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AusNet Services (ASX:AST), previously known as SP AusNet, has reported an annual profit fall after suffering a series of one-off charges. 

 

The energy networks business saw its net profit decline 87.3 per cent to $22.6 million in the year to the end of March but dip just 2.5 per cent to $312.8 million on an adjusted basis. 

 

AusNet Services has also revealed it is considering a restructure and simplification proposal which it is targeting to implement by June 18.  

 

The proposal suggests a new company named AusNet Services Limited would become the single head entity of AusNet Services in place of the current triple stapled structure.

 

A final dividend of 4.18 cents per share has been declared, taking the full year pay out to 8.36 cents per share.